MRK - Organon posts Q1 beat as topline growth returns thanks to established brands
Organon (NYSE:OGN), the Merck (MRK) spinoff focused on women’s health and biosimilars, is trading ~4% higher in the pre-market Thursday after reporting better than expected financials for Q1 2022 thanks to the outperformance of its established brands segment. After back-to-back quarterly declines, the top line for the quarter rose ~4% YoY to $1.6B as revenue from established brands jumped ~10% YoY to $1.1B after contractions in the past three quarters. “..with LOE risk in the Established Brands business largely behind us, together with continued focus on maximizing the potential of these well-known brands, we are starting to see the stability we knew was possible in that franchise," Chief Executive Kevin Ali remarked. Meanwhile, Women’s Health brought $378M, indicating a ~5% YoY decline, and revenue from Biosimilars rose ~22% YoY to $99M. Sales from the U.S. dropped ~6% YoY to $329M, while China generated $236M with ~15% YoY growth, and sales from Europe and
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Organon posts Q1 beat as topline growth returns thanks to established brands