Organon & Co
NYSE:OGN
Organon & Co
In the corporate realm of healthcare, Organon & Co. emerged as a dedicated player with a mission to address vital needs in women's health. Born from a spin-off of Merck & Co.'s women's health, biosimilars, and established brands business in 2021, Organon positions itself at the heart of a neglected niche ripe with opportunity. The company's vision is clear: to enhance the health and well-being of women at every stage of life. Organon leverages its legacy of trusted brands while simultaneously developing new and innovative solutions that cater to female-specific health concerns. Through its robust portfolio of medicines and products, Organon focuses on conditions that resonate deeply with women's health issues, from contraception and fertility to postpartum recovery. As a biopharmaceutical company, it prides itself on combining a blend of established and emerging solutions to create sustainable value.
Organon’s business model capitalizes on its diverse range of offerings, employing a three-pronged strategy. The women's health segment is a significant focus, providing products that are central in addressing previously unmet needs. Meanwhile, the biosimilars segment expands the company's reach, offering affordable alternatives to more costly biologic treatments, which is increasingly crucial in today's price-sensitive healthcare environment. Lastly, the established brands division comprises a portfolio of mature pharmaceutical products that continue to generate stable revenue, thanks partly to their enduring trust among healthcare professionals. This multifaceted approach ensures Organon isn't merely reliant on new product development but can also maximize value from existing assets. The synergy across these divisions allows Organon to not only meet current market demands but also anticipate future health trends, making it a dynamic entity in the global healthcare landscape.
In the corporate realm of healthcare, Organon & Co. emerged as a dedicated player with a mission to address vital needs in women's health. Born from a spin-off of Merck & Co.'s women's health, biosimilars, and established brands business in 2021, Organon positions itself at the heart of a neglected niche ripe with opportunity. The company's vision is clear: to enhance the health and well-being of women at every stage of life. Organon leverages its legacy of trusted brands while simultaneously developing new and innovative solutions that cater to female-specific health concerns. Through its robust portfolio of medicines and products, Organon focuses on conditions that resonate deeply with women's health issues, from contraception and fertility to postpartum recovery. As a biopharmaceutical company, it prides itself on combining a blend of established and emerging solutions to create sustainable value.
Organon’s business model capitalizes on its diverse range of offerings, employing a three-pronged strategy. The women's health segment is a significant focus, providing products that are central in addressing previously unmet needs. Meanwhile, the biosimilars segment expands the company's reach, offering affordable alternatives to more costly biologic treatments, which is increasingly crucial in today's price-sensitive healthcare environment. Lastly, the established brands division comprises a portfolio of mature pharmaceutical products that continue to generate stable revenue, thanks partly to their enduring trust among healthcare professionals. This multifaceted approach ensures Organon isn't merely reliant on new product development but can also maximize value from existing assets. The synergy across these divisions allows Organon to not only meet current market demands but also anticipate future health trends, making it a dynamic entity in the global healthcare landscape.
Revenue: Organon reported 2025 revenue of $6.2 billion, down 3% year-over-year, and expects 2026 revenue to remain flat at about $6.2 billion.
Adjusted EBITDA: Adjusted EBITDA for 2025 was $1.9 billion, with 2026 guidance also at roughly $1.9 billion.
Cost Savings: The company achieved over $200 million in cost savings in 2025 and is continuing aggressive OpEx management for 2026.
Margin Pressure: Gross margin declined by 150 basis points in 2025 due to pricing pressure and unfavorable product mix, with another 75–100 basis point decline expected in 2026.
Nexplanon: Nexplanon sales were challenged but FDA approval extended its duration to 5 years; 2026 Nexplanon sales are expected to be roughly flat year-over-year.
Biosimilars Performance: Biosimilars, led by Hadlima, outperformed expectations in 2025, but are guided to flat to modest growth in 2026.
Debt Reduction: Dividend payout was lowered and proceeds from a divestiture will be used to reduce net leverage, targeting a ratio below 4x by end of 2026.
Quarterly Loss: The company posted a Q4 2025 net loss of $205 million, driven by a noncash goodwill impairment.
