Sun Pharma, Grünenthal Are Said to Vie for US-Listed Organon

Sun Pharmaceutical Industries Ltd. and Germany’s Grünenthal are among firms vying for New York-listed women’s health-care company Organon & Co., according to people familiar with the matter.

India’s biggest pharmaceutical firm and closely held Grünenthal are working with advisers on potential binding bids for Organon that they may submit in the coming weeks, the people said, asking not to be identified discussing private information.

Organon, which has a market capitalization of $2.4 billion, has also drawn interest from other bidders including private equity firms, the people said. The New Jersey-based company was spun off from Merck & Co. in ...