Brands
Akasa Air co-founder Neelu Khatri steps down after shaping airline’s take-off
NEW DELHI: Neelu Khatri, co-founder and senior vice-president at Akasa Air, is stepping down after more than five years at the airline, bringing to a close a defining chapter in the life of India’s youngest carrier.
Khatri joined Akasa at inception in November 2020 and played a pivotal role in turning the airline from concept to commercial reality. Her tenure spanned the launch phase, network build-out and operational stabilisation, guiding teams through turbulence in one of the world’s most competitive aviation markets.
In a farewell message, Khatri credited Akasa’s rise to its people-“Akasians”-for building the airline from the ground up with discipline, empathy and resolve. She also thanked customers for their trust, saying their feedback helped refine the product as the airline committed to improving every day.
Akasa, which still has 196 aircraft to be inducted under its existing order book, is entering what Khatri described as a sturdy new phase of growth. “Akasa as a brand has truly arrived,” she said as she signed off with pride and gratitude.
The departure was marked by an emotional gesture from colleagues, who presented her with a keepsake fashioned from an aircraft engine blade removed after a bird strike—a symbol of shared battles and hard-earned milestones.
Before Akasa, Khatri served as president of Honeywell Aerospace India, leading strategy and business growth. Earlier roles include executive director positions at Pipavav Defence & Offshore Engineering, head of defence and security advisory services at KPMG, and a 16-year career in the Indian Air Force, where she rose to the rank of wing commander.
As Akasa readies its next leg of expansion, Khatri leaves behind a culture of execution, accountability and belief—proof that the airline’s formative years were built not just on aircraft and routes, but on people and purpose.
Brands
Sun Pharma to acquire Organon in $11.75 billion deal at $14 per share
Acquisition to create $12.4 billion pharma giant with global scale and biosimilars push
MUMBAI: Sun Pharmaceutical Industries Limited has signed a definitive agreement to acquire Organon & Co. in an all-cash deal valued at $11.75 billion, marking one of the largest cross-border pharma acquisitions by an Indian firm.
Under the terms of the agreement, Organon shareholders will receive $14.00 per share in cash, with Sun Pharma set to acquire 100 per cent of the company’s outstanding shares. The transaction, approved by the boards of both companies, is expected to close in early 2027, subject to regulatory approvals and shareholder consent.
The deal significantly expands Sun Pharma’s global footprint and strengthens its position across women’s health, biosimilars, and branded generics. The combined entity is projected to generate revenues of around $12.4 billion, placing it among the top 25 pharmaceutical companies globally.
Organon, which was spun off from Merck in 2021, brings a portfolio of over 70 products spanning women’s health and general medicines, with operations across more than 140 countries. Its established presence in key markets such as the US, Europe, and China complements Sun Pharma’s existing strengths and growth ambitions.
Sun Pharmaceutical Industries Limited executive chairman Dilip Shanghvi said, “This transaction represents a significant opportunity for Sun Pharma to build on its vision of reaching people and touching lives. Organon’s portfolio, capabilities and global reach are highly complementary to our own.”
Sun Pharmaceutical Industries Limited managing director Kirti Ganorkar added, “This transaction is a logical next step in strengthening Sun Pharma’s global business. Together, we will become a partner of choice for acquiring and launching new products.”
From Organon’s side, Organon & Co. executive chair Carrie Cox noted, “This all-cash transaction offers compelling and immediate value to Organon stockholders, while positioning the business for continued growth under Sun Pharma.”
Strategically, the acquisition gives Sun Pharma entry into the global biosimilars space as a top 10 player and strengthens its innovative medicines portfolio, which is expected to contribute around 27 per cent of combined revenues. The deal is also expected to nearly double EBITDA and cash flow, supporting long-term deleveraging and investment capacity.
Sun Pharma plans to fund the acquisition through a mix of internal accruals and committed financing from global banks, while maintaining focus on disciplined integration and operational continuity post-merger.
If completed as planned, the deal signals a clear shift in India’s pharmaceutical ambitions, from scale at home to leadership on the global stage, with Sun Pharma positioning itself as a more diversified and innovation-led healthcare powerhouse.
