Brands
Hard Rock International cuts ties with JSM Corporation, ending a decade of cafe operations across India
Ten locations from Bengaluru to Kolkata go dark after the American brand formally terminates its operator agreements — only the Goa hotel survives
FLORIDA: One of the most recognisable names in global hospitality has just gone dark across India. Hard Rock International has formally terminated its agreements with JSM Corporation Private Limited and related entities, stripping them of the right to operate all Hard Rock Cafes and Rock Shops in the country. Every last one of them.
The termination sweeps across ten locations: Hard Rock Cafe Bengaluru, Bengaluru International Airport, Bengaluru Whitefield, Chandigarh, Chennai, Hyderabad, Hyderabad Hitech City, Kolkata, New Delhi and Pune. That is the entire footprint of the brand’s cafe and retail operation in India, gone in one fell swoop.
JSM Corporation, the Mumbai-based hospitality group that brought the Hard Rock Cafe brand to India and built it into a ten-city operation over the years, has lost the lot. Hard Rock International has not disclosed the reasons for the termination, nor has JSM made any public statement.
One outpost escapes the carnage. The Hard Rock Hotel in Goa, which operates under a separate arrangement and is not connected to JSM, will remain open and continues to trade as normal.
For the thousands of regulars who have spent evenings amid the guitars and memorabilia at any of the ten shuttered venues, the brand’s exit from the cafe and retail segment marks an abrupt and unceremonious end. Hard Rock came to India with considerable fanfare. It is leaving considerably more quietly.
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.
