Pharmaceutical company Organon & Co. (NYSE: OGN) has reported higher revenues and adjusted earnings for the first quarter of 2024.
- First-quarter revenue was $1.62 billion, which is up 5% on a reported basis and 7% at constant currency
- Women’s Health revenue increased by 11% and Biosimilars revenue climbed by 46%
- Meanwhile, Established Brands revenue was flat on an as-reported basis during the quarter
- Reported earnings per share and adjusted earnings per share were $0.78 and $1.22, respectively, during the three months
- Net income came in at $201 million in the March quarter and adjusted EBITDA was $538 million
- Gross margin was 59.0% on a reported basis and 62.1% on an adjusted basis in the first quarter
- Adjusted EBITDA margin dropped to 33.2% in the first quarter from 33.7% last year
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