MAM
GroupM appoints new CFO for South Asia, promotes Parameshwar, Modi
MUMBAI: GroupM has hired Ashoke Sengupta as its CFO for South Asia. Sengupta, who joins GroupM from Microsoft, where he was the head of corporate finance, takes over from Choodamani Parameshwar.
Sengupta brings in extensive experience in managing finance for FMCG (P&G) as well as services sector (Reuters and Microsoft India). He will be responsible for finance and administration for all GroupM companies in the four countries of South Asia. GroupM in South Asia comprises its three media agencies – MindShare, Maxus and mediaedge:cia -, BroadMind, M One, Dialect, ATG, MCI and Out of Home.
Parameshwar, on the other hand, has moved into the crucial internal audit area – as WPP focuses more strongly than ever in ensuring that all its operating companies remain SoX compliant at all times. He will be working directly with Asia Pacific CFO George Yeoh for this role. Apart from this, he continues to oversee the finance and admin function at mediaedge:CIA India.
Another significant development is that GroupM India national finance director Prashant Modi has been promoted and relocated to Singapore in April. Modi, who currently reports to Parameshwar will now be director, finance and admin. for South East Asia. Modi will handle finance and admin for Malaysia, Thailand, Indonesia, Vietnam and Philippines, apart from Singapore. He will work with MindShare CEO South East Asia Nick Waters. Modi has been a key contributor to managing the spectacular growth of GroupM’s specialist units, and has developed market leading practices in managing finance for consulting, entertainment and BTL areas.
GroupM South Asia is increasingly being seen as a powerhouse of talent by the global company, and Modi is the tenth manager to be promoted and moved to operations in the network, outside of India in the last few months.
As a direct result of Modi’s promotion, Sridhar Ramasubramanium, who is currently head of commercial operations at MindShare Fulcrum, will take over as national finance director. Ramasubramanium has built and run highly effective commercial and operations team to manage the HLL business, and was being developed to move to this position over the last one year.
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.
