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Organon & Co. (OGN) is a science-based global pharmaceutical company dedicated to developing and delivering essential health solutions. Founded in Oss, the Netherlands, Organon originally gained fame for pioneering the birth control pill, which revolutionized women's health. Over the years, the company expanded significantly and was acquired by Schering-Plough, and later by Merck, continuing its legacy as MSD in the Netherlands.
Today, Organon operates with a robust portfolio comprising women's health, biosimilars, and established medicines. The company focuses on providing prescription therapies that address a wide range of health needs, particularly in women's health. Organon's product offerings include innovations in contraception, fertility treatments, and menopause management.
In addition to women's health, Organon is committed to advancing the field of biosimilars - biologically similar products to existing branded drugs that promise to enhance patient access to key treatments. The company's established brands, which include a variety of well-known medications, continue to be a core revenue driver. Geographically, Organon derives most of its revenue from Europe and Canada, followed by the United States, and then the Asia Pacific and Japan regions.
Organon remains at the forefront of pharmaceutical innovation, driven by a mission to improve health outcomes globally. The company's strategic partnerships and continued investment in research and development reflect its commitment to addressing some of the most pressing health challenges of our time.
Organon (NYSE: OGN) reported Q2 2024 revenue of $1.607 billion, flat year-over-year but up 2% at constant currency. Diluted EPS was $0.75, while non-GAAP Adjusted diluted EPS was $1.12. The company narrowed its full-year 2024 revenue guidance to $6.250-$6.450 billion. Key highlights:
- Women's Health revenue grew 3%, driven by 13% growth in Nexplanon
- Biosimilars revenue increased 22%, boosted by Hadlima's U.S. launch
- Established Brands revenue declined 1% ex-FX
- Gross margin was 58.4% (62.0% non-GAAP Adjusted)
- Net income was $195 million, down 19% year-over-year
- Adjusted EBITDA was $513 million with a 31.9% margin
The company declared a quarterly dividend of $0.28 per share.
Organon (NYSE: OGN) will announce its Q2 2024 financial results on August 6, 2024. The company's webcast and conference call are scheduled for 8:30 a.m. EDT. Organon estimates a $15 million milestone expense in the second quarter, impacting both GAAP and non-GAAP EPS by approximately $0.05. These expenses stem from collaborations with Cirqle Biomedical and Shanghai Henlius Biotech. The company notes that these milestones are not included in their May 2, 2024, financial guidance due to forecasting uncertainties. Final results are pending and may differ from estimates.
Interested parties can access the live webcast on Organon's website, with a replay available two hours post-event. Institutional investors and analysts need to pre-register to participate in the call.
Shanghai Henlius Biotech and Organon announced that the European Medicines Agency (EMA) has validated the marketing authorization applications for HLX14. HLX14 is a biosimilar candidate for Prolia® and Xgeva® (denosumab), used primarily to treat osteoporosis in postmenopausal women at high risk for fractures. The applications are based on a comprehensive phase 3 clinical study comparing HLX14 with EU-sourced reference denosumab. In 2022, Henlius granted Organon exclusive commercialization rights for HLX14 in the EU, US, and Canada, excluding China. Notably, 32 million Europeans aged 50 or above suffer from osteoporosis, highlighting the market potential for HLX14.
Organon, a global healthcare company focusing on women's health, announced the pricing of $1.0 billion Senior Notes Offering, consisting of $500 million of 6.750% senior secured notes and $500 million of 7.875% senior unsecured notes. The proceeds will be used to repay borrowings and cover related expenses. The offering is expected to close on May 17, 2024.
Organon, a global healthcare company focusing on women's health, plans to offer $1.0 billion in senior notes, consisting of $500 million in secured notes and $500 million in unsecured notes. The proceeds will be used to repay borrowings and cover related expenses. The offering is not registered under the U.S. Securities Act and is targeted at qualified institutional buyers and non-U.S. persons.
Organon (NYSE: OGN) reported impressive first-quarter 2024 results, with revenue reaching $1,622 million, up 5% on an as-reported basis and 7% at constant currency. Diluted earnings per share were $0.78, with non-GAAP adjusted earnings per share at $1.22. The company reaffirmed its full-year 2024 financial guidance. Women's Health revenue grew by 11%, Biosimilars revenue by 46%, and Established Brands revenue remained flat. Overall, Organon had a solid start to the year, focusing on growth while maintaining its commitment to improving women's health.
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