Pharmaceutical company Organon & Co. (NYSE: OGN) has reported higher revenues and adjusted earnings for the fourth quarter of 2023.
- Total revenue increased 8% annually to $1.60 billion in Q4, both on a reported basis and excluding the impact of foreign currency
- Women’s Health revenue increased 7% year-over-year, driven primarily by strong growth in Organon’s fertility products
- Biosimilar revenue jumped 49% from last year as reported, and 48% on an FX-adjusted basis in Q4
- Established Brands revenue rose 3%, despite the impacts of Volume-Based Procurement initiatives and a challenging operating environment in China
- Q4 net income more than doubled to $546 million or $2.13 per share in the three months ended December 2023
- On an adjusted basis, earnings moved up to $0.88 per share in Q4 from $0.81 per share last year
- At $449 million, fourth-quarter adjusted EBITDA was up 18% from the year-ago quarter.