MAM
The ad trinity attends Goafest 2016
MUMBAI: A couple of a months ago, ad guru Prasoon Joshi pleasantly surprised the advertising fraternity by announcing McCann Worldgroup India’s presence at the 11th edition of Goafest, after three consecutive years of no show from the agency at the Creative Abbys. The agency sent symbolic token entries to honour the festival in all the categories and their delegates participated and attended the fest in large numbers.
Naturally anticipation was high to see if the other heavy metals in the industry like Ogilvy and Mather, Lowe Lintas and Leo Burnett, who had long refrained from attending the Creative Abbys, would also follow suit and rejoin the biggest celebration of Indian advertising under Ad club president Raj Nayak’s leadership.
Though the other two agencies didn’t participate at the Creative Abbys this year either, Goafest 2016 lived up to the anticipation to a certain extent as the top honchos of Ogilvy and Mather and Lowe Lintas graced the conference individually.
The second day of Goafest 2016 leadership summit saw an auditorium full of creatives and media honchos at the edge of their seats listening to Mullen Lowe Lintas chairman R Balki having a tete a tete with film maker Karan Johar on the stage.
When the curious audience couldn’t help but ask him — “What will it take to get Lowe Lintas back to Goafest? — Balki’s quick response was “Better ask Arun Iyer this question” before he gave a knowing smile.
“It’s not about returning to Goafest. Just like Karan is happy just making Hindi cinema, as an advertising agency, we are happy making campaigns that touch people. We are currently positioned in a way that we can say we are not ‘judged’ to be creative. I don’t think we will be back only because it works for us. We are positioned in a way that we can call ourselves good without recognition, we are doing good work given the credentials that come from clients. So when something like this is handed to us by default, it will be foolish to sort of give it away.”
It didn’t stop at that. The trinity was finally complete later that day when the advertising fraternity came together to felicitate O&M India creative director and executive chairman Piyush Pandey on receiving the Padma Shri award.
“We haven’t changed our stand. But, this invitation that has been extended to me pertains to my felicitation by the organisers for getting the Padma Shri this year. I have accepted it and feel honoured to be part of an industry show such as Goafest,” Pandey informed when asked about his presence at Goafest 2016.
The industry witnessed something similar when Prasoon Joshi was felicitated last year at the Goafest 2015. Given the indications, the industry is hopeful that the next edition of the advertising festival will see a full participation from all the industry heavy weights.
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.
