Investment-Grade Ratings for Sun Pharma After Organon Deal; Dividends and Buybacks Likely Paused
Moody’s and S&P Global Ratings assigned investment-grade ratings to Sun Pharma, citing its $11.75 billion Organon acquisition. Bernstein retained an Outperform call and sees synergies that could add about $1 billion in value, saying cash flows should cover acquisition debt while enabling continued R&D investment. The broker expects Sun Pharma to largely avoid dividends and buybacks in FY27–29.