Sun Pharmaceutical Industries said in a regulatory filing on Wednesday that its Board of Directors is scheduled to meet on Monday, 12 October 2026, to consider and approve the issuance of listed, rated, unsecured, and redeemable non-convertible debentures (NCDs).
The proposed NCD issuance will be undertaken on a private placement basis, in one or more tranches, with an aggregate amount not exceeding ₹15,000 crore.
The announcement comes after media reports said the company is planning a rupee-denominated debt sale to partly fund a bridge loan it took to finance the acquisition of US healthcare company Organon & Co., according to three sources cited in a Reuters report.
Reuters reported on September 29, citing sources, that the country’s largest drugmaker by market capitalization had closed a syndication of a nearly $12 billion, 18-month bridge loan earlier this year to finance its acquisition of Organon. The syndication also included State Bank of India, the country’s largest lender by assets.
Sun Pharma’s latest deal with LIB Therapeutics
Late last month, the company signed an exclusive agreement with US-based LIB Therapeutics to manufacture, commercialize, and globally license lerodalcibep in all markets outside the United States and China.
Lerodalcibep is a once-monthly PCSK9 inhibitor used to lower low-density lipoprotein cholesterol (LDL-C) and treat adult patients with hypercholesterolaemia and mixed dyslipidaemia.
PCSK9 inhibitors are a class of advanced medicines designed to lower low-density lipoprotein (LDL), or “bad” cholesterol, by blocking the PCSK9 protein.
Under the agreement, LIB Therapeutics will receive upfront and future milestone payments, along with royalties based on net sales in the licensed territories, the company said in a regulatory filing.
The drug recently received marketing authorization from the European Commission on September 21, 2026, under the brand name Lyrokaul. In the US, it has been approved by the FDA under the brand name Lerochol.
Sun Pharma said the deal strengthens its Innovative Medicines portfolio by providing access to a $3.7 billion PCSK9 market outside the US and China, which is growing at a 38% CAGR. Europe alone accounted for $2.9 billion of this market in MAT Q2 2026.
For the June quarter, the company reported a 27% rise in consolidated net profit to ₹2,894.79 crore, while its consolidated revenue from operations stood at ₹15,299.88 crore in the first quarter, compared with ₹13,851.4 crore in the year-ago period.
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