Indian pharmaceutical company Sun Pharmaceutical Industries announced it will acquire U.S.-based healthcare firm Organon in an all-cash transaction valued at $11.75 billion.

Under the terms of the deal, Sun Pharma has offered to pay $14.00 per share for Organon, which is listed on U.S. stock exchanges. The acquisition represents one of the largest pharmaceutical deals involving an Indian company.

The transaction is expected to significantly expand Sun Pharma's global presence and position the Indian drugmaker among the top three global players in women's health, according to industry analysts. Organon specializes in women's health products and has an established presence in the U.S. healthcare market.

Sun Pharma, one of India's largest pharmaceutical companies, has been pursuing international expansion as part of its growth strategy. The acquisition of Organon would provide the company with enhanced access to developed markets and strengthen its portfolio in specialized therapeutic areas.

The deal is subject to regulatory approvals and standard closing conditions. Both companies have not disclosed the expected timeline for completion of the transaction.