Sun Pharmaceutical Industries Limited has officially clarified to stock exchanges that recent reports regarding a $12 billion acquisition bid for Organon are speculative in nature. The company issued a formal response to BSE and NSE surveillance teams, categorically stating there is no material event requiring disclosure under Regulation 30 of the Listing Regulations.

Official Regulatory Response

In a letter dated April 10, 2026, Sun Pharma addressed both BSE Limited and National Stock Exchange of India Limited regarding a news article titled "Sun Pharma slips nearly 4% after $12 billion Organon deal enters final stage" published on Moneycontrol. The company's response was signed by Anoop Deshpande, Company Secretary and Compliance Officer.

Company's Position on Speculation

Sun Pharmaceutical emphasized that the information presented in the media article was speculative and lacked substance requiring regulatory disclosure. The company reiterated its commitment to maintaining the highest standards of governance and transparency, assuring stakeholders that all material events would be disclosed as mandated under listing regulations.

Market Context and Clarification

The clarification comes in response to market speculation that had suggested Sun Pharma was preparing a substantial acquisition bid with backing from multiple global banks. The company's formal denial puts to rest rumors about what would have been potentially the largest merger and acquisition deal in Indian pharmaceutical history.

Regulatory Compliance Commitment

Sun Pharmaceutical reaffirmed its dedication to proper disclosure practices, stating it will continue to keep stock exchanges informed of any material developments as required under regulatory frameworks. The company's proactive response demonstrates its commitment to maintaining transparent communication with investors and regulatory authorities.

Sun Pharmaceutical Industries has published newspaper advertisements regarding the postal ballot process for appointing Ms. Satyavati Berera as an Independent Director. The company filed an intimation under Regulation 30 of SEBI regulations on April 8, 2026, confirming the publication of advertisements in Financial Express editions containing postal ballot and e-voting information.

Newspaper Advertisement Publication

The pharmaceutical company published advertisements in all editions of Financial Express (English) and Ahmedabad Edition of Financial Express (Gujarati) on April 8, 2026. The newspaper clippings have been attached as Annexure-A and are available on the company's website at www.sunpharma.com .

Updated E-Voting Timeline

The postal ballot notice reveals updated e-voting parameters for shareholder approval of Ms. Berera's appointment. The process includes specific timelines for remote voting and comprehensive shareholder communication.

Director Appointment Background

The appointment of Ms. Satyavati Berera comes as Ms. Rama Bijapurkar, the current Woman Independent Director, completes her five-year term on May 20, 2026. Ms. Bijapurkar has conveyed her unwillingness to seek reappointment due to personal reasons. Under SEBI Listing Regulations, the company must maintain at least one Woman Independent Director on its board at all times.

Professional Credentials and Board Memberships

Ms. Satyavati Berera brings extensive leadership experience from her tenure as Chief Operating Officer of PwC India, where she served for over 40 years before retiring in 2023. Her professional background includes serving as an Audit Partner from 1995 to 2005 and heading the consulting practice as Managing Partner for the northern region.

The 65-year-old chartered accountant, who qualified in 1984, currently holds directorships in three other listed companies:

Regulatory Compliance and Shareholder Communication

The Board of Directors has confirmed that Ms. Berera meets all independence criteria under Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI Listing Regulations. The company has verified that she has no material pecuniary relationships, prior employment history, or conflicting interests with Sun Pharmaceutical Industries.

Shareholders can access the postal ballot notice on the company's website, stock exchange websites (BSE and NSE), and CDSL's e-voting platform. The company's Registrar and Transfer Agent, MUFG Intime India Private Limited, provides support for shareholders requiring assistance with the e-voting process.