Organon (NYSE: OGN), a U.S.-based pharmaceutical company, has reported its financial results for the second quarter of 2024, with revenues amounting to USD 1.607 billion, marking a modest growth of 2% year-on-year (YOY) in constant currency terms. This performance aligns with market expectations and keeps the company on track to meet its previously forecasted revenue and profit targets for the full year.
In the global market, Women’s Health revenues experienced a 3% YOY increase in Q2, primarily propelled by a 13% growth in Nexplanon (etonogestrel implant) sales. However, within the Women’s Health segment, fertility business sales declined by 8% YOY, with the Chinese market identified as a significant contributor to this downturn. During the earnings call, Organon’s executives expressed optimism, stating, “We see 2025 as a rebound year with very strong growth for fertility, underpinned by continued ART [assisted reproductive technology] expanded reimbursement in China, international expansion, and performance in the U.S.”
Conversely, Organon’s Biosimilars business segment showed robust growth, with a 22% YOY increase, driven by the adoption of Hadlima (adalimumab), Organon’s generic version of Humira, which entered the U.S. market in July 2023. Additionally, Organon’s Herceptin biosimilar, Ontruzant (trastuzumab), saw a 46% YOY growth, with strong demand in Brazil, attributed in part to a government tender.
Organon’s Established Brands segment faced headwinds, with a 1% YOY decline, influenced by factors such as China’s Volume-Based Procurement (VBP) tendering process and Japan’s biannual repricing process.- Flcube.com
