Business & Finance
Organon posts Q2 2023 results
8 August 2023 -

Global healthcare company Organon (NYSE: OGN) reported its financial results for the second quarter ending 30 June 2023 on Tuesday.

The company recorded a Q2 revenue of USD1,608m, with diluted earnings per share of USD0.95 and non-GAAP adjusted diluted earnings per share of USD1.31.

Adjusted EBITDA reached USD530m during the period.

Organon's board of directors also declared a quarterly dividend of USD0.28 per share.

The full-year 2023 financial guidance was updated, with the revenue range adjusted to USD6.25bn to USD6.45bn, and the adjusted EBITDA margin now projected to be in the range of 31.5%-33.0%.

Organon focuses on enhancing women's health and biosimilars, boasting a diverse portfolio of over 60 medicines and products in these areas.

The Q2 2023 results reveal Organon's continued growth across regions and franchises, with solid volume growth observed. Women's Health and Biosimilars franchise revenues increased by 10% and 15% ex-FX respectively, driven by strong demand for Nexplanon and Renflexis.

CEO Kevin Ali emphasised the successful launch of Hadlima in the U.S., marking one of the company's most significant commercial launches. Additionally, Organon's collaboration with Alianza Team in biosimilar offerings is yielding promising results, contributing to a positive outlook for the company's future prospects.