- Organon & Co OGN Third quarter revenue reached $1.54 billiona 4% year-over-year decline (up 3% at constant exchange rates), beating the consensus of $1.52 billion.
- Women’s Health was up 19% and 23% ex-FX. Nexplanon (etonogestrel implant) grew 34% on a currency-neutral basis, driven primarily by favorable pricing, increasing demand in the US and volume growth outside the US
- Continued demand for the company’s fertility offerings also contributed to growth during the quarter.
- Biosimilars sales declined 7% (4% ex-FX), mainly due to the timing of a tender for Ontruzant (trastuzumab-dttb) in Brazil in 2021, as well as competitive pressures in Europe.
- Adjusted gross margin improved to 67.1% from 64.9%. The company reported Adjusted EBITDA of $546 million, down 11%.
- Adjusted earnings per share fell 16% to $1.32, ahead of the consensus of $1.10.
- Guidance: Organon has narrowed its FY22 revenue guidance to $6.1 billion to $6.2 billion $6.1 to $6.3 billion compared to the consensus of $6.18 billion.
- The company decreased and increased its adjusted EBITDA margin from 32% to 34% to 33.5% to 34.5%.
- Price promotion: OGN shares are up 4.01% to $26.97 on the latest check Thursday.
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