Organon (OGN)


Market Price (9/7/2026): $13.75 | Market Cap: $3.6 BilSector: Health Care | Industry: Pharmaceuticals

Organon (OGN)


Market Price (9/7/2026): $13.75
Market Cap: $3.6 Bil
Sector: Health Care
Industry: Pharmaceuticals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%, FCF Yield is 12%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%

Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Oncology Treatments, Show more.

Trading close to highs
Dist 52W High is 0.0%

Weak multi-year price returns
2Y Excs Rtn is -72%, 3Y Excs Rtn is -102%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 205%

Stock price has recently run up significantly
6M Rtn6 month market price return is 111%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.2%, Rev Chg QQuarterly Revenue Change % is -2.3%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 133%

Key risks
OGN key risks include [1] a substantial debt burden threatening its financial stability, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%, FCF Yield is 12%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%
2 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Oncology Treatments, Show more.
3 Trading close to highs
Dist 52W High is 0.0%
4 Weak multi-year price returns
2Y Excs Rtn is -72%, 3Y Excs Rtn is -102%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 205%
6 Stock price has recently run up significantly
6M Rtn6 month market price return is 111%
7 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.2%, Rev Chg QQuarterly Revenue Change % is -2.3%
8 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 133%
9 Key risks
OGN key risks include [1] a substantial debt burden threatening its financial stability, Show more.

OGN in ETFs

Weight = OGN's share of each fund

VTI0.00%
ITOT0.00%
IWB0.01%
IJR0.19%
VYM0.01%
VB0.04%
SLYV0.39%
VIOV0.39%
+13 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 9/1/2026

Organon (OGN) stock has gained about 5% since 5/31/2026 because of the following key factors:

1. Shareholder approval of the acquisition by Sun Pharmaceutical Industries Limited provided a clear valuation benchmark for the stock. Organon's shareholders approved the definitive agreement for Sun Pharma to acquire all shares for $14.00 per share in cash on July 23, 2026. This upcoming acquisition, expected to close in early 2027, likely provided a floor and target for Organon's stock price, supporting its upward movement in the specified period.

2. The company received FDA approval for an expanded use of its biosimilar, TOFIDENCE® (tocilizumab-bavi). On June 10, 2026, the U.S. Food and Drug Administration (FDA) approved Organon's supplemental Biologics License Application (sBLA) for TOFIDENCE® as a biosimilar to ACTEMRA (tocilizumab). This approval broadened its critical-care role to include severe Cytokine Release Syndrome (CRS) and certain hospitalized COVID-19 patients, expanding its market potential.

Show more
Updated on 9/1/2026

Organon (OGN) stock has gained about 5% since 5/31/2026 because of the following key factors:

1. Shareholder approval of the acquisition by Sun Pharmaceutical Industries Limited provided a clear valuation benchmark for the stock. Organon's shareholders approved the definitive agreement for Sun Pharma to acquire all shares for $14.00 per share in cash on July 23, 2026. This upcoming acquisition, expected to close in early 2027, likely provided a floor and target for Organon's stock price, supporting its upward movement in the specified period.

2. The company received FDA approval for an expanded use of its biosimilar, TOFIDENCE® (tocilizumab-bavi). On June 10, 2026, the U.S. Food and Drug Administration (FDA) approved Organon's supplemental Biologics License Application (sBLA) for TOFIDENCE® as a biosimilar to ACTEMRA (tocilizumab). This approval broadened its critical-care role to include severe Cytokine Release Syndrome (CRS) and certain hospitalized COVID-19 patients, expanding its market potential.

3. Positive new analysis from Phase 3 clinical trial data for VTAMA® (tapinarof) cream boosted confidence in its dermatology portfolio. Organon presented new analysis of Phase 3 pooled data for VTAMA® cream on July 24, 2026, which demonstrated early and consistent improvements in atopic dermatitis patients across pediatric age groups and adults. This positive clinical data for a key product strengthened its future revenue potential in a significant therapeutic area.

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Stock Movement Drivers

Fundamental Drivers

The 3.4% change in OGN stock from 5/31/2026 to 9/6/2026 was primarily driven by a 22.8% change in the company's P/E Multiple.
(LTM values as of)53120269062026Change
Stock Price ($)13.3213.783.4%
Change Contribution By: 
Total Revenues ($ Mil)6,1636,127-0.6%
Net Income Margin (%)4.0%3.4%-14.5%
P/E Multiple14.117.322.8%
Shares Outstanding (Mil)260263-0.9%
Cumulative Contribution3.4%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/6/2026
ReturnCorrelation
OGN3.4% 
Market (SPY)1.8%24.6%
Sector (XLV)14.7%14.3%

Fundamental Drivers

The 89.6% change in OGN stock from 2/28/2026 to 9/6/2026 was primarily driven by a 71.2% change in the company's P/E Multiple.
(LTM values as of)22820269062026Change
Stock Price ($)7.2713.7889.6%
Change Contribution By: 
Total Revenues ($ Mil)6,2166,127-1.4%
Net Income Margin (%)3.0%3.4%13.4%
P/E Multiple10.117.371.2%
Shares Outstanding (Mil)260263-0.9%
Cumulative Contribution89.6%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/6/2026
ReturnCorrelation
OGN89.6% 
Market (SPY)12.6%15.9%
Sector (XLV)7.5%-9.1%

Fundamental Drivers

The 47.5% change in OGN stock from 8/31/2025 to 9/6/2026 was primarily driven by a 399.0% change in the company's P/E Multiple.
(LTM values as of)83120259062026Change
Stock Price ($)9.3413.7847.5%
Change Contribution By: 
Total Revenues ($ Mil)6,2816,127-2.5%
Net Income Margin (%)11.1%3.4%-69.4%
P/E Multiple3.517.3399.0%
Shares Outstanding (Mil)260263-1.0%
Cumulative Contribution47.5%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/6/2026
ReturnCorrelation
OGN47.5% 
Market (SPY)20.4%13.0%
Sector (XLV)26.4%5.3%

Fundamental Drivers

The -29.5% change in OGN stock from 8/31/2023 to 9/6/2026 was primarily driven by a -72.1% change in the company's Net Income Margin (%).
(LTM values as of)83120239062026Change
Stock Price ($)19.5513.78-29.5%
Change Contribution By: 
Total Revenues ($ Mil)6,1686,127-0.7%
Net Income Margin (%)12.2%3.4%-72.1%
P/E Multiple6.617.3161.5%
Shares Outstanding (Mil)255263-2.8%
Cumulative Contribution-29.5%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/6/2026
ReturnCorrelation
OGN-29.5% 
Market (SPY)77.1%24.4%
Sector (XLV)34.7%28.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
OGN Return-7%-4%-45%10%-51%93%-49%
Peers Return28%11%7%13%22%25%160%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
OGN Win Rate50%50%50%50%42%78% 
Peers Win Rate53%57%47%52%53%67% 
S&P 500 Win Rate75%42%67%75%67%56% 

Max Drawdowns [4]
OGN Max Drawdown--40%-64%-36%-61%-41% 
Peers Max Drawdown-21%-24%-26%-22%-27%-18% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VTRS, PFE, ABBV, AMGN, LLY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)

How Low Can It Go

EventOGNS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-47.7%-9.5%
  % Gain to Breakeven91.3%10.5%
  Time to Breakeven172 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-23.3%-24.5%
  % Gain to Breakeven30.4%32.4%
  Time to Breakeven88 days427 days

Compare to VTRS, PFE, ABBV, AMGN, LLY

In The Past

Organon's stock fell -6.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 6.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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EventOGNS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-47.7%-9.5%
  % Gain to Breakeven91.3%10.5%
  Time to Breakeven172 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-23.3%-24.5%
  % Gain to Breakeven30.4%32.4%
  Time to Breakeven88 days427 days

Compare to VTRS, PFE, ABBV, AMGN, LLY

In The Past

Organon's stock fell -6.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 6.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Organon (OGN)

Organon & Co. (OGN) is a global healthcare company focused on developing and delivering a diverse portfolio of prescription therapies. The company strategically prioritizes women's health solutions and biosimilar medicines, while also managing a significant collection of established pharmaceutical brands across various therapeutic areas. Organon operates and distributes its products both in the United States and internationally.

The company's key product offerings include its women's health portfolio, which features prominent contraception and fertility brands such as Nexplanon/Implanon. Its biosimilars segment comprises immunology products like Brenzys, Renflexis, and Hadlima, as well as oncology products including Ontruzant and Aybintio. Organon also maintains a substantial portfolio of established brands covering cardiovascular conditions (e.g., Zetia, Cozaar), respiratory treatments (e.g., Singulair), dermatology, bone health (Fosamax), non-opioid pain management (Arcoxia), and men's health (Proscar, Propecia).

Organon serves a broad range of customers within the healthcare sector. These primarily include drug wholesalers, retailers, hospitals, and various government agencies. The company also engages with managed healthcare providers such as health maintenance organizations (HMOs) and pharmacy benefit managers (PBMs). Its expansive sales and distribution network ensures that its therapeutic solutions reach patients across its domestic and international markets.

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Here are 1-2 brief analogies for Organon (OGN):

  • Imagine a Procter & Gamble for prescription drugs, managing a broad portfolio of well-known, established pharmaceutical brands across various therapeutic areas.
  • Think of it as a Unilever for established pharmaceutical assets, focusing on maximizing the value of familiar prescription therapies and growing in key segments like women's health and biosimilars.

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  • Nexplanon/Implanon: Long-acting reversible contraceptives.
  • Brenzys, Renflexis, Hadlima: Immunology biosimilar products.
  • Ontruzant, Aybintio: Oncology biosimilar products.
  • Zetia, Ezetrol, Vytorin, Inegy, Rosuzet, Zocor: Cholesterol-modifying medicines.
  • Cozaar, Hyzaar: Medications for treating hypertension.
  • Singulair, Dulera, Zenhale, Asmanex: Respiratory products for asthma management.
  • Singulair, Nasonex, Clarinex, Aerius: Medications for treating seasonal allergic rhinitis.
  • Diprosone, Elocon: Dermatology products.
  • Fosamax: A bone health medication.
  • Arcoxia, Diprospan, Celestone: Non-opioid pain management products.
  • Proscar: A treatment for symptomatic benign prostatic hyperplasia.
  • Propecia: A treatment for male pattern hair loss.

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Major Customers of Organon (OGN)

Organon & Co. sells its products primarily to other companies and organizations within the healthcare supply chain, rather than directly to individuals. Based on the company description, its major customers are:

  • Drug wholesalers
  • Retailers (e.g., pharmacies)
  • Hospitals
  • Government agencies
  • Managed health care providers (including Health Maintenance Organizations, Pharmacy Benefit Managers, and other institutions)

The provided company description does not list specific names of individual customer companies within these categories. Therefore, specific public company symbols for individual customer entities cannot be provided.

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Joseph Morrissey, Interim Chief Executive Officer

Joseph Morrissey was appointed Interim Chief Executive Officer in January 2026. Prior to this role, he served as Organon's Executive Vice President and Head of Manufacturing & Supply for over four years. Morrissey spent more than 30 years of his career at Merck & Co., Inc., where he held significant leadership positions including Senior Vice President of Merck's Animal Health Global Manufacturing and Supply (2017-2021) and Senior Vice President and leader of Global Human Health Pharmaceutical Manufacturing (2014-2016).

Matthew Walsh, Chief Financial Officer

As Chief Financial Officer, Matthew Walsh is responsible for developing and executing Organon's financial strategy, focusing on profitability, shareholder value, and financial integrity to advance the company's vision as a leading women's health company. He has served as CFO in several public companies, including Executive Vice President and CFO at Allergan plc and Catalent, Inc., before joining Organon. Walsh's career also includes finance and leadership positions at Escala Group and GenTek, as well as corporate development roles in the chemical and banking industries. He is a CFA® Charterholder and serves on the Board of Certara, Inc., a public company, and was previously a board member of Multicolor Corporation. He holds a B.S. in chemical engineering and an M.B.A. from Cornell University.

Juan Camilo Arjona Ferreira, M.D., Head of Research & Development and Chief Medical Officer

Dr. Juan Camilo Arjona Ferreira serves as the Head of Research & Development and Chief Medical Officer at Organon. In this role, he is responsible for leading the advancement of the company's differentiated portfolio.

Rachel Stahler, Chief Digital and Growth Officer

Rachel Stahler is Organon's Chief Digital and Growth Officer. She is also identified as leading Business Technology for the company.

Kirke Weaver, General Counsel and Corporate Secretary

Kirke Weaver holds the position of General Counsel and Corporate Secretary at Organon.

AI Analysis | Feedback

  1. Loss of Exclusivity and Competition for Established Brands

    Organon relies on a portfolio of established prescription therapies, including well-known brands such as Zetia, Singulair, Fosamax, and Cozaar. Many of these products are mature and may face or have already faced the expiration of patent protection or market exclusivity. The subsequent entry of generic and biosimilar competitors can lead to significant price erosion and a substantial decline in sales for these key revenue-generating products, akin to a "patent cliff" scenario. This risk is amplified by the fact that a significant portion of the company's offerings falls into this category.
  2. Intense Competition and Pricing Pressure in the Biosimilars Market

    Organon's biosimilars portfolio, which includes products like Brenzys, Renflexis, Hadlima, Ontruzant, and Aybintio, is a key strategic area for the company. However, the global biosimilars market is characterized by intense competition from numerous pharmaceutical companies, leading to aggressive pricing strategies and continuous pressure on market share. This competitive environment can limit the profitability and growth potential of Organon's biosimilar offerings, requiring significant investment in market access and commercialization to maintain competitiveness.
  3. Reliance on a Mature Product Portfolio Without a Robust Novel Pipeline

    The company's description emphasizes its portfolio of existing prescription therapies and biosimilars, with less focus on a pipeline of novel drug candidates or significant investment in de novo drug discovery and development. While Organon aims to "develops and delivers health solutions," its listed assets are predominantly established brands or biosimilars. This strategic focus may indicate a potential lack of significant future growth drivers from innovative new products, making the company more susceptible to declines in its existing portfolio due to competition or changing market dynamics if not offset by successful business development or internal innovation.

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Organon & Co. (OGN) operates in several key healthcare markets. The addressable markets for its main products and services are sized as follows:

  • Women's Health:
    • Contraception (Nexplanon/Implanon): The global contraceptive market was estimated at approximately USD 31.18 billion in 2024 and is projected to reach about USD 44.04 billion by 2030. The global long-acting contraception (LARC) market was estimated at USD 3.94 billion in 2025 and is expected to reach USD 6.41 billion by 2032. The contraceptive devices market, which includes implants like Nexplanon, is expected to reach US$ 45.65 billion by 2033 from US$ 28.22 billion in 2025.
    • Fertility brands: The global infertility drugs market was estimated at USD 4.18 billion in 2025 and is predicted to increase to approximately USD 7.50 billion by 2035.
  • Biosimilars:
    • Adalimumab biosimilars (Hadlima): The global adalimumab biosimilar market was valued at USD 897.85 million in 2025 and is expected to reach USD 8.1 billion by 2035. In 2026, the global adalimumab, infliximab, and etanercept biosimilars market is projected to be USD 5.47 billion.
    • Infliximab biosimilars (Renflexis): The global infliximab biosimilar market was valued at USD 3.5 billion in 2023 and is projected to reach USD 7.8 billion by 2032.
    • Etanercept biosimilars (Brenzys): The global adalimumab, infliximab, and etanercept biosimilars market is expected to grow to USD 8.05 billion by 2030.
    • Trastuzumab biosimilars (Ontruzant): The global trastuzumab biosimilars market size was estimated at $6.9 billion in 2025 and is projected to reach $24.48 billion in 2030.
    • Bevacizumab biosimilars (Aybintio): The global bevacizumab biosimilars market was valued at $1.64 billion in 2025 and is expected to reach $2.42 billion in 2030. Another source states the global bevacizumab biosimilar market size was approximately USD 3.2 billion in 2023 and is projected to reach around USD 14.7 billion by 2032.
  • Cardiovascular Products:
    • Cholesterol-modifying medicines (Zetia, Vytorin, etc.): The global dyslipidemia drugs market was valued at approximately USD 15 billion in 2023 and is projected to reach around USD 22 billion by 2032.
    • Hypertension (Cozaar, Hyzaar): The global anti-hypertensive drugs market was estimated at USD 25.88 billion in 2025 and is projected to reach USD 35.32 billion by 2033.
  • Respiratory Products:
    • Asthma and COPD (Singulair, Dulera, Zenhale, Asmanex): The global asthma and COPD drugs market was calculated at USD 43.49 billion in 2025 and is predicted to increase to approximately USD 92.39 billion by 2035.
    • Allergic Rhinitis (Singulair, Nasonex, Clarinex, Aerius): The global allergic rhinitis drugs market was valued at USD 14.58 billion in 2025 and is predicted to increase to approximately USD 21.61 billion by 2035.
  • Dermatology Products (Diprosone, Elocon): The global topical corticosteroids market was valued at USD 4.06 billion in 2024, is estimated to reach USD 4.27 billion in 2025, and is projected to reach USD 6.36 billion by 2033.
  • Bone Health (Fosamax): The global osteoporosis treatment market is estimated to be valued at USD 15.57 billion in 2025 and is expected to reach USD 21.06 billion by 2032.
  • Non-opioid Pain Management (Arcoxia, Diprospan, Celestone): The global non-steroidal anti-inflammatory drugs (NSAIDs) market was estimated at USD 22.58 billion in 2024 and is projected to reach USD 31.29 billion by 2030.
  • Proscar (Benign Prostatic Hyperplasia): The global benign prostatic hyperplasia treatment market was valued at USD 13.0 billion in 2025 and is estimated to reach USD 18.9 billion by 2034.
  • Propecia (Male Pattern Hair Loss): The global androgenetic alopecia market was valued at USD 2.81 billion in 2023 and is expected to reach USD 5.76 billion by 2032. The global hair loss treatment for men market size was valued at USD 190 million in 2024 and is projected to grow to USD 259 million by 2032.

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Organon (OGN) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies and product areas:

  1. Continued Growth in the Women's Health Portfolio, Led by Nexplanon and Recent Launches: Organon's Women's Health segment, particularly its long-acting reversible contraceptive Nexplanon, is a significant driver of revenue growth. Analysts project approximately 8% growth for Nexplanon, with expectations for it to achieve at least $1 billion in revenue in 2025. The company is also expanding its women's health offerings with recently launched products like Jada (for postpartum hemorrhage) and Xaciato (for bacterial vaginosis), which are expected to become meaningful revenue contributors. Organon is committed to addressing unmet needs across a woman's entire lifespan, focusing on conditions unique to women.
  2. Expansion and Commercialization of the Biosimilars Portfolio: Organon's biosimilars segment has shown strong performance, with a 22% growth rate in constant currency for Q2 2024 and 17% growth in Q3 2024. Key products like Hadlima (adalimumab biosimilar), launched in the U.S. in 2023, are significant contributors to this growth. The company continues to benefit from the success of other immunology biosimilars such as Renflexis and Aybintio, and new product launches like denosumab and tocilizumab assets are further bolstering this portfolio.
  3. Strategic Business Development and Acquisitions to Broaden Product Offerings: Organon is actively pursuing business development and external innovation to enhance its product portfolio and market reach. Notable acquisitions include Alydia Health, a medical device company focused on postpartum hemorrhage, and Forendo Pharma, which brought the investigational endometriosis treatment (OG-6219) into its pipeline. Additionally, the acquisition of Dermavant and its key asset Vtama (tapinarof) is expected to contribute significantly to Organon's dermatology portfolio, with potential sales of $150 million in 2025.
  4. Geographic Expansion and Increased Penetration in International Markets: Organon has a substantial global footprint, with a significant portion of its revenue generated outside the U.S. The company aims to capitalize on its established brands in international markets by selectively increasing commercial spend. Strong performance has been observed in various regions, including China and Latin America, the Middle East, Russia, and Africa. Initiatives such as the Women's Health Accelerator Program, expanding into the Middle East, Turkey, and Africa (META) region, underscore Organon's commitment to international growth.

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Capital Allocation Decisions (2021-2025)

Share Repurchases

Organon has not reported any share repurchases over the last 3-5 years. The company has stopped buying shares from the market, prioritizing debt reduction.

Share Issuance

Organon's number of outstanding shares has shown a slight increase over the last few years. In 2021, the company had 253.55 million shares outstanding, which increased to 254.36 million in 2022, 255.61 million in 2023, 257.54 million in 2024, and 259.98 million in 2025. Specific dollar amounts for these issuances were not provided.

Outbound Investments

  • Organon completed the acquisition of Dermavant for $1.2 billion in September 2024.
  • In 2021, Organon made three acquisitions, including Alydia Health in June and Forendo Pharma.
  • Organon acquired the US rights to Tofidence, a tocilizumab biosimilar, from Biogen in April 2025. The company also acquired the Oss Bio-Tech manufacturing facility from Merck for $25 million in the third quarter of 2025.

Capital Expenditures

  • Organon's capital expenditures were $192 million in 2021, $196 million in 2022, $251 million in 2023, and $175 million in 2024.
  • For 2025, capital expenditures are estimated at $180.7 million.
  • Historically, capital expenditures have represented approximately 2-3% of the company's revenue.

Better Bets vs. Organon (OGN)

Peer Outperformance in Pharmaceuticals

OGN has trailed 56% of its 62 Pharmaceuticals peers over 5Y. Among the peers that beat it are VTRS, BMY and PBH. Pharmaceuticals ranks 6th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Pharmaceuticals constituents that OGN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
69%
of 74 industry peers · 33.8% return
3Y
39%
of 69 industry peers · -20.5% return
5Y
44%
of 62 industry peers · -52.3% return
Pharmaceuticals peers with revenue growth within 4pp of OGN's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
OGN Organon -0.2% 17.3x 33.8%-20.5%-52.3%
VTRS Viatris -1.8% -47.8x 66.5%91.5%42.1% +94pp
BMY Bristol-Myers Squibb 2.9% 14.7x 48.6%28.3%25.8% +78pp
PBH Prestige Consumer Healthcare -0.7% 14.4x -19.7%-8.3%-6.2% +46pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Health Care sector, ranked by 5Y. Pharmaceuticals is OGN's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 7 14.0%90.5%127.8% CAH 413% · MCK 353% · COR 181%
Managed Health Care 8 32.5%-2.2%4.0% OSCR 99% · HQY 47% · ELV 16%
Health Care Services 20 19.7%52.7%-0.4% HIMS 222% · RDNT 141% · DGX 68%
Health Care Facilities 24 -1.0%3.1%-19.2% THC 254% · NHC 248% · ENSG 112%
Health Care Equipment 50 -4.5%-5.4%-23.9% POCI 10775% · UFPT 332% · GKOS 198%
Pharmaceuticals ← 63 -1.5%3.5%-34.0% LQDA 2424% · INDV 1137% · ETON 1020%
Health Care Supplies 12 27.9%-12.9%-35.1% LNTH 286% · HAE 60% · MMSI 25%
Life Sciences Tools & Services 109 1.6%-28.3%-72.1% SNWV 1688% · MEDP 205% · AXGN 174%
Biotechnology 362 4.7%-23.3%-78.0% BRTX 73900% · DNTH 1594% · CELZ 1486%
Health Care Technology 19 -24.6%-53.2%-79.3% SPOK 72% · HSTM 0% · VEEV -11%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

OGNVTRSPFEABBVAMGNLLYMedian
NameOrganon Viatris Pfizer AbbVie Amgen Eli Lilly 
Mkt Price13.7816.8828.45256.46437.231,149.36142.45
Mkt Cap3.619.6162.1453.7236.11,025.7199.1
Rev LTM6,12714,73763,69564,38638,09579,66650,895
Op Inc LTM1,16413017,01921,85011,42639,60814,222
FCF LTM4341,81210,98518,21010,17513,56010,580
FCF 3Y Avg5681,7979,41118,0768,7543,2946,024
CFO LTM7372,33113,40119,50712,47828,08312,940
CFO 3Y Avg8762,26412,19819,14310,31214,51011,255

Growth & Margins

OGNVTRSPFEABBVAMGNLLYMedian
NameOrganon Viatris Pfizer AbbVie Amgen Eli Lilly 
Rev Chg LTM-2.5%4.4%-0.2%10.4%9.1%49.6%6.8%
Rev Chg 3Y Avg-0.2%-1.8%-5.2%4.9%12.8%39.4%2.3%
Rev Chg Q-2.3%4.9%2.6%10.2%9.5%47.7%7.2%
QoQ Delta Rev Chg LTM-0.6%1.2%0.6%2.5%2.4%10.3%1.8%
Op Inc Chg LTM-12.9%-67.0%2.1%59.5%39.5%76.5%20.8%
Op Inc Chg 3Y Avg-7.6%-41.5%233.9%11.2%12.3%71.3%11.7%
Op Mgn LTM19.0%0.9%26.7%33.9%30.0%49.7%28.4%
Op Mgn 3Y Avg20.5%4.0%18.7%27.5%24.5%42.1%22.5%
QoQ Delta Op Mgn LTM0.1%-0.8%-0.5%0.8%1.6%2.4%0.4%
CFO/Rev LTM12.0%15.8%21.0%30.3%32.8%35.3%25.7%
CFO/Rev 3Y Avg14.0%15.4%19.7%32.4%29.3%22.5%21.1%
FCF/Rev LTM7.1%12.3%17.2%28.3%26.7%17.0%17.1%
FCF/Rev 3Y Avg9.1%12.2%15.1%30.6%24.9%2.5%13.7%

Valuation

OGNVTRSPFEABBVAMGNLLYMedian
NameOrganon Viatris Pfizer AbbVie Amgen Eli Lilly 
Mkt Cap3.619.6162.1453.7236.11,025.7199.1
P/S0.61.32.57.06.212.94.4
P/Op Inc3.1150.59.520.820.725.920.7
P/EBIT3.8-107.823.539.118.224.920.8
P/E17.3-47.837.471.927.038.432.2
P/CFO4.98.412.123.318.936.515.5
Total Yield6.3%0.7%8.7%4.0%5.9%3.2%5.0%
Dividend Yield0.5%2.8%6.0%2.6%2.2%0.6%2.4%
FCF Yield 3Y Avg15.4%13.6%6.7%5.2%5.2%0.3%5.9%
D/E2.40.70.40.20.20.10.3
Net D/E2.10.60.30.10.20.00.3

Returns

OGNVTRSPFEABBVAMGNLLYMedian
NameOrganon Viatris Pfizer AbbVie Amgen Eli Lilly 
1M Rtn1.5%3.5%6.3%4.2%7.0%-2.9%3.9%
3M Rtn3.3%7.1%11.2%13.7%25.8%1.7%9.1%
6M Rtn110.7%22.0%8.8%13.2%19.9%16.4%18.2%
12M Rtn33.8%66.5%22.4%24.4%58.4%59.0%46.1%
3Y Rtn-20.5%91.5%0.7%91.0%88.0%104.7%89.5%
1M Excs Rtn1.7%4.3%8.5%5.1%8.5%-3.5%4.7%
3M Excs Rtn-1.2%2.6%6.6%9.1%21.3%-2.8%4.6%
6M Excs Rtn96.2%7.5%-5.7%-1.3%5.4%1.9%3.6%
12M Excs Rtn24.8%50.5%5.4%5.4%41.7%37.0%30.9%
3Y Excs Rtn-101.6%3.1%-74.8%20.8%14.5%43.1%8.8%

FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA215272  VTAMAtapinarofcream5232022-18.4%-32.0%-41.9%-33.9%-55.8%
NDA215650  XACIATOclindamycin phosphategel1207202126.0%31.1%-6.6%-56.9%-42.6%
NDA205641  ASMANEX HFAmometasone furoateaerosol, metered4252014     
NDA200153  LIPTRUZETatorvastatin calciumtablet5032013     
NDA022518  DULERAformoterol fumarateaerosol, metered6222010     
NDA021529  IMPLANONetonogestrelimplant7172006     
NDA021313  CLARINEX-D 12 HOURdesloratadinetablet, extended release2012006     
Collapse to Preview
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA215272  VTAMAtapinarofcream5232022-18.4%-32.0%-41.9%-33.9%-55.8%
NDA215650  XACIATOclindamycin phosphategel1207202126.0%31.1%-6.6%-56.9%-42.6%
NDA205641  ASMANEX HFAmometasone furoateaerosol, metered4252014     
NDA200153  LIPTRUZETatorvastatin calciumtablet5032013     
NDA022518  DULERAformoterol fumarateaerosol, metered6222010     
NDA021529  IMPLANONetonogestrelimplant7172006     
NDA021313  CLARINEX-D 12 HOURdesloratadinetablet, extended release2012006     

Clinical Pipeline

Drug CandidateIndicationPhase 3 TrialsEst. Primary Completion
TapinarofPlaque psoriasis and atopic dermatitis2Oct 2026
Active Phase 3 studies led by the company. Source: ClinicalTrials.gov · Updated 8/28/2026

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Nexplanon/Implanon NXT921963830834 
Other420443440472200
Zetia342317322370 
Atozet324473519457 
Other Non-Opioid Pain, Bone and Dermatology301295275273 
Arcoxia265270257241 
Follistim AQ264237262229 
Nasonex262276266260 
Singulair252359404411 
Renflexis251274278226 
Hadlima2281424419 
Cozaar/Hyzaar219243281323 
Emgality17410700 
Other Women's Health174158147138 
Dulera153203194180 
Diprospan15013991122 
Fosamax143151159152 
Vtama1281200 
Marvelon/Mercilon127134134110 
Other Cardiovascular126133139146 
Clarinex123127136125 
Propecia118111125125 
Ganirelix Acetate Injection101109110123 
Vytorin100108129130 
Ontruzant99141155122 
Proscar979597101 
NuvaRing91115176219 
Brenzys80777375 
Jada74614320 
Other Respiratory52536461 
Other Biosimilars332843  
Rosuzet24497071 
Aybintio   39 
Biosimilars    424
Established Brands    4,065
Women’s Health    1,615
Total6,2166,4036,2636,1746,304


Price Behavior

Price Behavior
Market Price$13.78 
Market Cap ($ Bil)3.6 
First Trading Date05/14/2021 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$13.60$10.26
DMA Trendupup
Distance from DMA1.4%34.3%
 3M1YR
Volatility2.9%66.3%
Downside Capture-2.5167.31
Upside Capture12.7986.85
Correlation (SPY)25.9%13.1%
OGN Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta0.060.030.060.840.680.88
Up Beta-0.080.010.07-0.140.310.71
Down Beta0.15-0.120.011.280.770.80
Up Capture22%13%13%192%86%61%
Bmk +ve Days10213268138427
Stock +ve Days12233464119363
Down Capture-6%-1%-1%44%65%105%
Bmk -ve Days11213259113324
Stock -ve Days4111950115369

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OGN
OGN43.7%66.5%0.79-
Sector ETF (XLV)26.5%16.0%1.285.6%
Equity (SPY)19.7%12.8%1.1313.0%
Gold (GLD)24.6%29.2%0.7516.8%
Commodities (DBC)43.8%20.3%1.67-0.2%
Real Estate (VNQ)9.1%13.6%0.3913.1%
Bitcoin (BTCUSD)-28.1%43.8%-0.638.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OGN
OGN-13.1%47.4%-0.14-
Sector ETF (XLV)6.6%15.1%0.2533.0%
Equity (SPY)12.8%17.2%0.5729.2%
Gold (GLD)19.1%18.8%0.8213.1%
Commodities (DBC)10.7%19.5%0.438.7%
Real Estate (VNQ)1.7%18.9%-0.0132.9%
Bitcoin (BTCUSD)10.2%52.6%0.3811.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OGN
OGN-6.7%47.7%-0.11-
Sector ETF (XLV)10.8%16.7%0.5332.5%
Equity (SPY)15.3%17.9%0.7228.3%
Gold (GLD)12.4%16.3%0.6212.5%
Commodities (DBC)7.9%18.1%0.357.8%
Real Estate (VNQ)4.8%20.7%0.1931.6%
Bitcoin (BTCUSD)63.7%66.2%1.0310.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity15.1 Mil
Short Interest: % Change Since 7312026-9.9%
Average Daily Volume2.5 Mil
Days-to-Cover Short Interest6.1 days
Basic Shares Quantity262.6 Mil
Short % of Basic Shares5.8%

Earnings Returns History

Updated 7/31/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/30/2026-0.7%0.5%0.2%
2/12/2026-8.2%-2.2%-17.2%
11/10/202513.7%11.1%6.2%
8/5/2025-13.1%-6.8%1.9%
5/1/2025-26.9%-32.3%-28.5%
2/13/202511.0%6.7%6.1%
10/31/20244.7%-11.9%-9.9%
8/6/2024-7.6%-3.6%11.6%
...
SUMMARY STATS   
# Positive9810
# Negative111210
Median Positive9.0%7.5%8.9%
Median Negative-8.2%-8.5%-16.7%
Max Positive13.8%13.4%14.8%
Max Negative-26.9%-32.3%-28.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/30/2026-0.7%0.5%0.2%
2/12/2026-8.2%-2.2%-17.2%
11/10/202513.7%11.1%6.2%
8/5/2025-13.1%-6.8%1.9%
5/1/2025-26.9%-32.3%-28.5%
2/13/202511.0%6.7%6.1%
10/31/20244.7%-11.9%-9.9%
8/6/2024-7.6%-3.6%11.6%
5/2/20243.6%8.2%14.8%
2/15/202413.8%13.4%13.4%
11/2/2023-10.5%-16.2%-19.5%
8/8/20239.0%5.8%-7.9%
5/4/2023-9.2%-11.3%-17.4%
2/16/2023-15.0%-8.9%-25.2%
11/3/2022-0.2%-8.0%5.5%
8/4/2022-0.5%-3.2%-10.8%
5/5/20225.1%0.5%12.9%
2/17/20220.1%-0.9%-2.7%
11/12/2021-2.9%-9.0%-16.1%
8/12/202111.9%12.2%14.1%
SUMMARY STATS   
# Positive9810
# Negative111210
Median Positive9.0%7.5%8.9%
Median Negative-8.2%-8.5%-16.7%
Max Positive13.8%13.4%14.8%
Max Negative-26.9%-32.3%-28.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/31/202610-Q
03/31/202605/04/202610-Q
12/31/202502/24/202610-K
09/30/202511/10/202510-Q
06/30/202508/06/202510-Q
03/31/202505/02/202510-Q
12/31/202402/28/202510-K
09/30/202411/01/202410-Q
06/30/202408/07/202410-Q
03/31/202405/03/202410-Q
12/31/202302/26/202410-K
09/30/202311/03/202310-Q
06/30/202308/09/202310-Q
03/31/202305/05/202310-Q
12/31/202202/27/202310-K
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/31/202610-Q
03/31/202605/04/202610-Q
12/31/202502/24/202610-K
09/30/202511/10/202510-Q
06/30/202508/06/202510-Q
03/31/202505/02/202510-Q
12/31/202402/28/202510-K
09/30/202411/01/202410-Q
06/30/202408/07/202410-Q
03/31/202405/03/202410-Q
12/31/202302/26/202410-K
09/30/202311/03/202310-Q
06/30/202308/09/202310-Q
03/31/202305/05/202310-Q
12/31/202202/27/202310-K
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
03/31/202205/06/202210-Q
12/31/202103/21/202210-K
09/30/202111/12/202110-Q
06/30/202108/16/202110-Q
03/31/202106/21/202110-Q
12/31/202004/29/202110-12B/A

Insider Activity

Updated 8/12/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Drinane, Juliana PapaHead of Mfg & SupplyDirectSell805202613.5714,761200,307250,702Form
2Holzbaur, LynetteSVP and Corporate ControllerDirectBuy507202613.3526,448353,080705,548Form
3Cox, Carrie SmithExecutive ChairIRABuy111320257.6765,400501,755597,419Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Drinane, Juliana PapaHead of Mfg & SupplyDirectSell805202613.5714,761200,307250,702Form
2Holzbaur, LynetteSVP and Corporate ControllerDirectBuy507202613.3526,448353,080705,548Form
3Cox, Carrie SmithExecutive ChairIRABuy111320257.6765,400501,755597,419Form

Investor Activity (13F)

Updated Sep 7, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Kahn Brothers Group Inc$33.2 Mil5.9%48ADD +52.6%13F
Think Investments LP$24.0 Mil3.2%30New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Think Investments LP$24.0 Mil3.2%30New13F
Kahn Brothers Group Inc$33.2 Mil5.9%48ADD +52.6%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Kahn Brothers Group Inc$33.2 Mil5.9%48ADD +52.6%13F
Think Investments LP$24.0 Mil3.2%30New13F
Core Cache Last Updated: 9/6/2026