MAM
Nothing expands co-founder Akis Evangelidis’s role as India president
MUMBAI: Nothing is making a bold statement in India. The London-based technology company has appointed co-founder Akis Evangelidis as India president, a move that signals the brand’s commitment to one of its fastest-growing markets. In this expanded role, Evangelidis will steer Nothing’s strategic direction and growth in India, cementing the company’s foothold in the highly competitive consumer tech space.
India has been a major force behind Nothing’s meteoric rise. In 2024, the brand became the fastest-growing player in India’s smartphone market, clocking an eye-popping +577 per cent year-over-year growth (source: Counterpoint Q4 2024 India Smartphone Tracker). The surge was powered by the Phone (2a) series and the success of CMF by Nothing, its sub-brand. Now, Evangelidis takes charge of ensuring Nothing’s next phase of expansion in the country.
Evangelidis shared his vision, “India is one of the most important markets for Nothing, and we believe there is a tremendous opportunity to become a leading consumer tech brand in the country. I’m very excited to step into this new role and continue to bring distinctive, design-led tech innovations to Indian consumers. India will play a pivotal role in the global smartphone industry in the years to come, and we’re committed to accelerating our ‘Make in India’ initiatives and boosting domestic production. In 2025, we’re doubling down by ramping up our investments in India and expanding our offline presence to 12,000+ stores.”
Reinforcing its commitment to manufacturing in India, Nothing recently announced that its much-anticipated Phone (3a) series—slated for launch on 4 March at 3:30 pm IST—will be manufactured in Chennai.
Evangelidis’s appointment underscores the brand’s long-term vision—blending innovation, design, and accessibility to shape the future of consumer technology in India.
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.
