Sun Pharmaceutical Industries Limited · NSE:SUNPHARMA
Sun Pharmaceutical Industries — Merger or Acquisition (April 2026)
28 slides from Sun Pharmaceutical Industries's merger presentation, Apr 27, 2026
Slide 1: Exchange filing letter: Investor Presentation
Sun Pharmaceutical Industries Limited Sun House, Plot No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai – 400 063, Maharashtra, INDIA. Tel.: (91-22) 4324 4324 Fax: (91-22) 4324 4343 Website: www.sunpharma.com Email: secretarial@sunpharma.com CIN: L24230GJ1993PLC019050 27 April 2026 National
Slide 2: Accelerating Sun's Transformation Towards Becoming a Global Pharma Company
ACCELERATING SUN’S TRANSFORMATION TOWARDS BECOMING A GLOBAL PHARMA COMPANY Reaching People, Touching Lives Investor presentation | April 2026 1
Slide 3: Disclaimer
Disclaimer Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “pl
Slide 4: Forward Looking Statements
Forward Looking Statements This presentation contains express or implied forward-looking statements related to Sun Pharma and the proposed transaction. All statements other than statements of historical fact are statements that could be deemed “forward-looking statements” within the meaning of the “
Slide 5: Sun Pharma – Putting patients first and delivering superior performance
Sun Pharma – Putting patients first and delivering superior performance $6.2B+ Presence in #1 Revenue in FY25 100+ countries Pharma company in India by revenue 20% of Revenue from fast Strong Balance Sheet with growing Innovative Medicines $3.1B+ Cash – FY25 business 4
Slide 6: Sun's values are at the core of its performance culture
Sun’s values are at the core of its performance culture Values driven Patient centricity Execution rigor Sunology is the way of life • Touching 1000+ • Scaled portfolio of large, at Sun Pharma patients per minute trusted brands • Humility • Commitment to address • HCP-centric branded unmet patient n
Slide 7: Strategic M&A and BD deals have been integral in value creation at Sun Pharma
Strategic M&A and BD deals have been integral in value creation at Sun Pharma – Successful track record of integrating people and businesses Key M&A moves Announced Acquisition of Organon & Co 2010 2012 2014 2015 2018 2021 2023 2025 2026 Key BD&L deals Acquired rights from In-licensed Winlevi® Acqui
Slide 8: Organon & Co: Strong brand equity and global commercial footprint
Organon & Co: Strong brand equity and global commercial footprint 1 Leadership in Women’s Health • Leading position in Women’s Health - #2 in contraceptive and #3 in fertility 2 At scale established brands • 50+ established brands with 15 brands of 100 Mn scale and biosimilars portfolio • #7 in bios
Slide 9: Organon has a strong portfolio of Innovative Medicines, Established Brands and Biosimilars
Organon has a strong portfolio of Innovative Medicines, Established Brands and Biosimilars Women’s Health & other innovative medicines Established Brands Biosimilars Top 3 fertility and contraceptive Top 5 established products player Top 10 global biosimilars platform platform 22 Products ~33%* Rev.
Slide 10: Organon has a leading position in the high-potential Women's Health segment
Organon has a leading position in the high-potential Women’s Health segment Women’s Health market is large and attractive Organon has a strong platform in WH to drive sustained growth 1 A Basket of global innovative brands Leading position in US contraceptives and fertility $35Bn1+ total market size
Slide 11: An attractive portfolio of large, Established Brands in high-value therapies
An attractive portfolio of large, Established Brands in high-value therapies Organon has a large $3+ Bn This portfolio spans across therapies, including CVS1, Established Brands portfolio Respi, Bone and Derma CVS Bone health 1 55% of Organon’s revenue comes from Established Brands 2 15 100 Mn+ bran
Slide 12: 7th largest player in the high-growth Biosimilar segment
7th largest player in the high-growth Biosimilar segment Global Biosimilars Market Organon Biosimilar Revenue: 13%+ CAGR over L5Y Revenue (USD Mn) 691 $20+ Bn market growing at 15%+ 662 593 1 481 424 2 $320+ Bn cumulative peak sales of patented drugs reaching LOE by 2035 $70+ Bn potential biosimilar
Slide 13: A transformative opportunity for Sun, unlocking new growth platforms
A transformative opportunity for Sun, unlocking new growth platforms Deep dive ahead 1 Increased share of Innovative Medicines; addition of Women’s Health as new therapy area 2 Leverage Sun’s branded generics playbook to rejuvenate a strong platform of established brands 3 Build a presence in biosim
Slide 14: Innovative Medicines: Organon strengthens Sun's presence in innovation space
Innovative Medicines: Organon strengthens Sun’s presence in innovation space, with addition of Women’s Health as a new pillar Sun’s portfolio Organon’s portfolio Innovative product portfolio of the combined entity Dermatology Women’s Health and Ophthalmology Onco-Derma • 27% revenue share of combine
Slide 15: Established Brands: Opportunity to use Sun's BGx playbook to rejuvenate EP portfolio
Established Brands: Opportunity to use Sun’s BGx playbook to rejuvenate EP portfolio Sun’s portfolio Organon’s portfolio Leading global player in Established Brands/ Branded Gx segment • 51% revenue share of combined Sun’s portfolio has business 100+ scaled • Opportunity for Branded Gx products – Cr
Slide 16: Generics and Biosimilars: Adds Biosimilar as a new platform
Generics and Biosimilars: Adds Biosimilar as a new platform; unlocks new channels for Gx portfolio Sun’s portfolio Organon’s portfolio Leading presence in Biosimilar and Generics segments Biosimilars Generics #7 rank globally, 8 Biosimilars in 550+ approved ANDAs across • Opportunity to market techn
Slide 17: Commercial platform: Global presence across 150+ markets
Commercial platform: Global presence across 150+ markets, 18 markets with 100 Mn+ revenue • 24,000+ commercial front-end team • Adds/ significantly scales presence in EU, China, Korea, Mexico, Thailand • Opportunity to become in-licensing partner of choice US IND CHI CAN BRA SPA ROM RUS JAP ITA AUS
Slide 18: China: Scaled platform, with multiple opportunities to accelerate presence
China: Scaled platform, with multiple opportunities to accelerate presence China is a large, growing market Organon provides at scale Potential to drive further with strong innovation pipeline platform for expansion growth $150 Bn+ market in 2025 $800 Mn+ revenue • Acceleration of Established Brands
Slide 19: Combination of Sun and Organon creates a business with significant global scale
Combination of Sun and Organon creates a business with significant global scale ~$12.4Bn revenue 27% 51% Share of Innovative revenues from Established Medicines Brands / Branded Generics 18 markets at ~24K Combined $100Mn+ scale commercial front end team Notes: combined figures indicate upon acquisi
Slide 20: Poised to enhance share of Innovative Medicines and Established Brands / BGx
Poised to enhance share of Innovative Medicines and Established Brands / BGx + API & Others Generics 2% Innovative API & others Innovative Other* 15% Medicines 4% Biosimilars 1% Innovative Medicines / Medicines 27% 20% 11% Women’s Health 33% Biosimilars Generics 6% 30% $6.2 Bn $6.2 Bn $12.4 Bn BGx 4
Slide 21: Complementary footprint creates presence in all major regions
Complementary footprint creates presence in all major regions; expands Europe; adds China and Korea + India RoW + Others 17% Others China 28% 4% India RoW 13% 33% EU + CA 14% Asia incl. Japan 16% 26% $6.2 Bn $6.2 Bn $12.4 Bn EM 18% US LAMERA1 US 27% 17% 26% US 31% EM 29% Notes: combined figures mean
Slide 22: Combined business will unlock several vectors of value creation
Combined business will unlock several vectors of value creation Potential Synergies of over $350 Mn in 2-4 years, Significant future upside from Growth Opportunities 1. Enhance patient access by cross-pollinating portfolio 4. Leverage DNA of efficient across markets and lean operations Grow Sun usin
Slide 23: A merger of robust operations: EBITDA and Cash Flows set to nearly double
A merger of robust operations: EBITDA and Cash Flows set to nearly double Sun Organon Sun + Organon $6.2 Bn $12.4 Bn Revenue $6.2 Bn ~2x $1.9 Bn* $3.7 Bn EBITDA $1.8 Bn ~2x Free cash flow $1.1 Bn $2.5 Bn ~1.8x (before financing) $1.4 Bn Net Debt/ EBITDA Net Positive ~4.0x ~2.3x Strong cash generatio
Slide 24: Transaction overview
Transaction Transaction overview overview 01 NYSE ticker: OGN 02 $14.0 per share in cash at closing 03 Representing Equity Value of $3.99 Bn and Enterprise Value of $11.75* Bn on a fully diluted basis Acquisition financed with: Transaction 04 • $2-2.5Bn of cash on hand Details • Balance $9.25-9.75 B
Slide 25: Next steps: Deal execution and integration planning for post-close
Next steps: Deal execution and integration planning for post-close Deal execution Integration planning for post-close 1 Initiate integration planning including Integration 1 Submit regulatory filings Management Office Obtain Organon shareholder and relevant 2 Assess combined organizational capabilit
Slide 26: Building our shared Culture
Building our shared Culture Sunology The Organon Way Humility Be Real We All Belong Integrity Bring Your Fire Passion Own It Innovation Rise Together Keep Moving Patient Centricity at the core of our Culture 25
Slide 27: Accelerating Sun's transformation towards becoming a Global Pharma Company
Accelerating Sun’s transformation towards becoming a Global Pharma Company #1 Pharma Company in 4 Countries #3 in Women’s Health (Contraceptives and Fertility) #7 in Biosimilars globally 18 countries with > $100 Mn revenue Top 25 Global 27% revenue from Innovative Medicines Pharma company Reaching P
Slide 28: Thank you
Thank you
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