Organon Announces Filing of Form 10-Q for the Quarter Ended March 31, 2021
June 21, 2021 8:30 am EDT
Company affirms guidance provided during May 3rd Investor Day; will host second quarter earnings call on or about August 12, 2021
JERSEY CITY, N.J.--(BUSINESS WIRE)-- Organon (NYSE: OGN) (the “company”), today announced that it has filed a Form 10-Q for the quarter ended March 31, 2021. In the filing, the condensed combined financial statements reflect the company’s financial position, results of operations and cash flows as it was operated as part of Merck prior to the spin-off, in conformity with U.S. generally accepted accounting principles ("GAAP"). These condensed combined financial statements do not purport to reflect what the company’s results of operations, comprehensive income, financial position, equity or cash flows would have been had the company operated as a standalone public company during the periods presented.
A copy of the Form 10-Q, along with a related Frequently Asked Questions document, and supplemental revenue information, has been posted to the company’s website, www.organon.com/investor-relations.
The results of the first quarter were incorporated into Organon’s guidance for full year 2021, which was provided as part of the company’s May 3, 2021 virtual Investor Day co-hosted by Merck. The company is affirming the full year guidance which included expected revenue in the range of $6.1 billion to $6.4 billion and Adjusted EBITDA margin in a range of 36.0% to 38.0% for full year 2021. To view the Investor Day presentation in its entirety, please visit www.organon.com/investor-relations under “Events & Presentations.”
Organon plans to release its second quarter results for the quarter and six months ended June 30, 2021 on or about August 12, 2021, and will host its first conference call as a standalone, publicly-traded company on the same day. Details will follow at a later date.
Organon (NYSE: OGN) is a global healthcare company formed through a spinoff from Merck, known as MSD outside of the United States and Canada, to focus on improving the health of women throughout their lives. Here for her health, the company has a portfolio of more than 60 medicines and products across a range of therapeutic areas. Led by the reproductive health portfolio coupled with an expanding biosimilars business and stable franchise of established medicines, Organon’s products produce strong cash flows that will support investments in future growth opportunities in women’s health, including business development. In addition, Organon is pursuing opportunities to collaborate with biopharmaceutical innovators looking to commercialize their products by leveraging its scale and presence in fast growing international markets.
Organon has a global footprint with significant scale and geographic reach, world-class commercial capabilities, and approximately 9,000 employees with headquarters located in Jersey City, New Jersey.
Forward-Looking Statement of Organon & Co., Jersey City, N.J., USA
This news release of Organon & Co. (the “company”) may include “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the recent global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict its future financial results and performance; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s filings with the Securities and Exchange Commission (SEC), including its registration statement on Form 10, available at the SEC’s Internet site (www.sec.gov).