Organon reported a solid start to the year with a 4% increase in total net revenue, reaching $1,567 million. The company saw growth in Biosimilars and Established Brands, while Women's Health experienced a slight decline. Adjusted EBITDA margin improved to 41.3%.
Total net revenue increased by 4% as-reported and 8% ex-FX compared to Q1 2021.
Women's Health declined 5% as-reported and 3% ex-FX, impacted by Nuvaring and Nexplanon.
Biosimilars revenue grew 22% as-reported and 25% ex-FX, driven by Renflexis and Ontruzant.
Established Brands revenue increased 10% as-reported and 15% ex-FX, benefiting from demand fluctuations and volume growth.
Organon affirmed the full year 2022 financial guidance previously provided on February 17, 2022, which is presented on a non-GAAP basis.
Visualization of income flow from segment revenue to net income