Organon & Co.
- Open
- 13.77
- Day high
- 13.77
- Day low
- 13.75
- Prev close
- 13.76
- Volume
- 3.9M
- Mkt cap
- $3.6B
- P/E (TTM)
- 17.4
- EPS (TTM)
- $0.79
- P/B
- 3.6
- P/S
- 0.6
- Yield
- 0.58%
- Per share
- $0.08
- ▼Insiders net selling -$200K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Organon & Co. (OGN) is a Healthcare company listed on NYSE. The stock is up 46% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 3 published research articles covering OGN.
Organon & Co. (OGN) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OGN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 31, 2026 | $0.91 | $0.41 | -54.9% | $1.6B | -0.8% |
| May 7, 2026 | $0.83 | $0.71 | -14.5% | $1.5B | -1.9% |
| Feb 12, 2026 | $0.73 | $0.63 | -13.7% | $1.5B | +0.5% |
| May 1, 2025 | $0.89 | $1.02 | +14.6% | $1.5B | -1.5% |
| Feb 13, 2025 | $0.92 | $0.90 | -2.2% | $1.6B | -0.0% |
| Oct 31, 2024 | $0.90 | $0.87 | -3.3% | $1.6B | +1.2% |
| May 2, 2024 | $0.97 | $1.22 | +25.8% | $1.6B | +3.5% |
| Feb 15, 2024 | $0.80 | $0.88 | +10.0% | $1.6B | +3.3% |
| Nov 2, 2023 | $1.04 | $0.87 | -16.3% | $1.5B | -3.9% |
| May 4, 2023 | $1.18 | $1.08 | -8.7% | $1.5B | -2.3% |
| Feb 16, 2023 | $0.85 | $0.81 | -5.2% | $1.5B | -2.8% |
| Nov 3, 2022 | $1.12 | $1.32 | +17.9% | $1.5B | +1.5% |
OGN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 12, 2026 | Arjona Ferreira Juan Camiloofficer: Head of R&D & CMO | Option | 11,519 | — |
| Aug 12, 2026 | Arjona Ferreira Juan Camiloofficer: Head of R&D & CMO | Tax | 4,134 | $13.62 |
| Aug 5, 2026 | Drinane Juliana Papaofficer: Head of Mfg & Supply | Sell | 14,761 | $13.57 |
| Jun 15, 2026 | Gayle Helene Ddirector | Grant | 17,857 | — |
| Jun 15, 2026 | LAZARUS ROCHELLE Bdirector | Grant | 17,857 | — |
| Jun 15, 2026 | Ozuah Philipdirector | Grant | 17,857 | — |
| Jun 15, 2026 | ESSNER ROBERTdirector | Grant | 17,857 | — |
| Jun 15, 2026 | Ezekowitz Alandirector | Grant | 17,857 | — |
| Jun 15, 2026 | Sharp Shalinidirector | Grant | 17,857 | — |
| Jun 15, 2026 | Leone Deborah Rdirector | Grant | 17,857 | — |
| Jun 15, 2026 | Patton Cynthia Mdirector | Grant | 17,857 | — |
| Jun 15, 2026 | Sequeira Ramonadirector | Grant | 17,857 | — |
| May 7, 2026 | Holzbaur Lynetteofficer: SVP and Corporate Controller | Sell | 26,448 | $13.35 |
| May 7, 2026 | Holzbaur Lynetteofficer: SVP and Corporate Controller | Buy | 26,448 | $13.35 |
| Apr 2, 2026 | WALSH MATTHEW Mofficer: Chief Financial Officer | Grant | 83,472 | — |
Source: OGN SEC Form 4 filings, latest Aug 12, 2026. For informational purposes only — not investment advice.
See the full OGN insider & 13F page →OGN research & analysis
OGN: Sun Pharma Locks $12B Buyout, Below Rumored Range
Sun Pharma confirmed a $12 billion Organon acquisition on April 27, $1B below the rumored price but still likely to pressure SUNP shares 4-7% on dilution concerns while OGN rallies 9-15% on the acquisition premium over the next 1-3 trading days.
SUNPOGN: Sun Pharma Locks $12B Deal, 90% Below Bid Range
Sun Pharma and Organon announced a definitive $12 billion acquisition agreement on April 27, settling what Wall Street had priced as a 90% no-deal scenario. Organon faces 22-28% upside on the confirmed premium while Sun Pharma confronts 5-7% downside on overpayment concerns, with the thesis breaking if either stock moves >10% on unrelated news before deal close.
SUNPOGN: Sun Pharma's $12B Buyout Lands $1B Below Rumored Price
Sun Pharma confirmed a $12 billion Organon acquisition on April 27, $1 billion below the rumored price. The market is treating this as neutral-to-negative for SUNP, but the deal delivers immediate scale in women's health and biosimilars at 1.2x revenue, with $450M+ in synergies driving 20%+ upside over 12-18 months as earnings accretion becomes visible.
SUNP
Organon & Co. company profile
Overview
Organon & Co. (NYSE:OGN) is a global healthcare company that was spun off from Merck & Co. in 2021, focusing on women's health, biosimilars, and established pharmaceutical brands. Founded as an independent entity in 2020 and incorporated in Jersey City, New Jersey, the company went public in May 2021. Organon operates as a specialty pharmaceutical company with a diverse portfolio of prescription therapies sold in the United States and internationally, serving healthcare providers, patients, and health systems worldwide.
Business
Organon operates in the pharmaceutical industry across three primary business segments that together generated $6.4 billion in revenue in 2024. Women's Health Franchise represents the company's flagship segment, accounting for approximately 25-30% of total revenue. The cornerstone product is Nexplanon/Implanon, a long-acting reversible contraceptive implant that provides birth control for up to three years. This small, flexible rod is inserted under the skin of a woman's upper arm and releases hormones to prevent pregnancy. The company is working to extend this to a five-year indication. The segment also includes fertility treatments and Jada, a medical device for treating postpartum hemorrhage - a life-threatening condition where women experience excessive bleeding after childbirth. Biosimilars Franchise comprises roughly 15-20% of revenue and focuses on creating lower-cost alternatives to expensive biologic drugs after their patents expire. Key products include Hadlima (a biosimilar to Humira for autoimmune conditions), Brenzys and Renflexis (immunology products), and Ontruzant and Aybintio (oncology treatments). Biosimilars are complex-to-manufacture copies of biologic medicines that can provide significant cost savings to healthcare systems while maintaining similar efficacy to the original branded products. Established Brands Franchise generates the largest portion of revenue at approximately 50-55% and consists of mature pharmaceutical products across multiple therapeutic areas. This includes cardiovascular medicines like Zetia and Vytorin for cholesterol management, respiratory products such as Singulair for asthma, Nasonex for allergies, dermatology products, and pain management medications. Recently, the company acquired Vtama, a topical treatment for psoriasis and atopic dermatitis, expanding into the dermatology market.
Revenue model
Organon generates revenue primarily through direct product sales to a diverse customer base including drug wholesalers, retail pharmacies, hospitals, government agencies, and managed care organizations such as health maintenance organizations and pharmacy benefit managers. The company's revenue model varies by segment. The Women's Health business benefits from strong pricing power due to limited competition for products like Nexplanon, which has device patent protection through 2030. The Biosimilars segment operates on a volume-based model where success depends on gaining formulary access and market share by offering lower net costs compared to reference biologics. The Established Brands segment faces ongoing pricing pressures and patent expirations but generates steady cash flows from mature products with established market positions. Several factors influence Organon's profitability margins. Positive margin drivers include the company's focus on operational efficiency with targeted cost savings of $200 million in 2025, successful launches of higher-margin products like Vtama, and the growing scale of Nexplanon approaching $1 billion in annual sales. The biosimilars business benefits from increasing market acceptance and the company's competitive positioning in the Humira biosimilar market through Hadlima. Margin pressures come from patent expirations on key products like Atozet, generic competition across the established brands portfolio, pricing pressures in international markets particularly in Japan and China, and the substantial upfront investment required for new product launches like Vtama which required $180 million in operating expenses for 2025. Currency fluctuations also impact margins given the company's significant international operations. Additionally, the competitive dynamics in biosimilars can compress pricing over time as more competitors enter specific therapeutic markets.
Competitive moat
Organon's competitive moat is moderate and varies significantly across its business segments. The company's strongest defensive position lies in its Women's Health franchise, particularly with Nexplanon, which benefits from device patent protection extending through 2030, regulatory barriers for generic entry, and the complexity of developing competing long-acting contraceptive devices. The product's three-year (potentially five-year) duration creates natural customer retention and switching costs for healthcare providers who must be trained on insertion and removal procedures. The Established Brands segment has a relatively weak moat, as these are mature pharmaceutical products facing ongoing generic competition and patent expirations. However, some products maintain market positions through brand recognition, physician familiarity, and established distribution relationships. The recent addition of Vtama provides some differentiation in dermatology with its unique non-steroidal mechanism and approval for patients as young as two years old. The Biosimilars business operates in an inherently commoditized market with limited sustainable competitive advantages. Success depends primarily on manufacturing capabilities, regulatory expertise, and commercial execution rather than proprietary technology. While Organon has achieved strong market share with Hadlima in the Humira biosimilar market, this position could erode as additional competitors enter. The company faces significant competitive threats from larger pharmaceutical companies with greater R&D resources, generic drug manufacturers, and new biosimilar entrants. The patent cliff affecting many established pharmaceutical products represents an ongoing structural challenge. Additionally, healthcare cost containment pressures globally continue to compress pricing across most therapeutic areas, limiting the company's ability to maintain premium pricing except for truly differentiated products.
Risks & safety
Organon presents moderate financial risk with mixed safety indicators reflecting both strengths and concerns. Overall Assessment: The company maintains adequate liquidity but operates with high leverage that management is actively addressing through debt reduction efforts. Liquidity and Debt: - Cash and short-term investments: $547 million (Q1 2025) - Current ratio: 1.67, indicating adequate short-term liquidity - Debt-to-equity ratio: 16.5x, representing very high leverage - Net leverage target: Below 4x by year-end 2025 (down from current levels) - Free cash flow: $43 million (Q1 2025), though this was $764 million for full year 2024 Valuation Metrics: - Price-to-earnings ratio: 11.0x (reasonable for pharmaceutical sector) - EV/EBITDA: 9.4x (moderate valuation) - Price-to-book ratio: 7.1x (elevated, reflecting high debt levels) Other Considerations: - Dividend recently reduced to accelerate debt reduction, showing management prioritization of balance sheet health - Revenue base of $6.4 billion provides scale and diversification - Patent expiration risks on key products create ongoing revenue headwinds - Operational efficiency initiatives targeting $200 million in cost savings demonstrate management focus on profitability
Recent development
Over the past few years, Organon has executed several strategic initiatives to transform from a Merck spin-off into a focused specialty pharmaceutical company. The most significant recent development was the acquisition of Dermavant in 2024, which brought the dermatology drug Vtama into the portfolio. This $150 million revenue opportunity in 2025 represents Organon's entry into the attractive atopic dermatitis market, with management projecting potential growth to $500 million within 3-5 years. The company has systematically expanded its Women's Health franchise from two to seven therapeutic areas through targeted acquisitions and partnerships. A key milestone was submitting the Nexplanon five-year study to the FDA, which could extend the contraceptive implant's duration from three to five years, potentially expanding its market opportunity significantly. Management expects Nexplanon to exceed $1 billion in annual sales in 2025. In biosimilars, Organon has established a strong position in the post-Humira market with Hadlima achieving leading market share among biosimilar competitors. The company has built a pipeline of future biosimilar launches including potential products targeting Denosumab and Pertuzumab through partnerships with Shanghai Henlius, following a strategy of launching new biosimilar assets every couple of years. The company has also focused heavily on operational efficiency, implementing restructuring programs to create a more streamlined organization. These efforts are targeting $200 million in cost savings for 2025, with approximately 75% coming from selling, general and administrative expenses and 25% from cost of goods sold improvements. Additionally, management reduced the dividend to accelerate debt reduction, demonstrating a shift in capital allocation priorities toward balance sheet strengthening over shareholder returns.
OGN company profile · for informational purposes only — not investment advice.
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