ORGANON & CO.

(OGN)
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Delayed Nyse  -  04:03 2022-08-09 pm EDT
31.39 USD   -0.48%
08/08Goldman Sachs Trims Organon & Co's Price Target to $38 From $41, Keeps Buy Rating
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08/05ORGANON & CO. Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q)
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Organon : Q2 2022 Earnings Presentation

08/04/2022 | 08:28am EDT

Organon

Q2 2022 Earnings

Disclaimer statement

This text should be viewed in conjunction with Organon's Q2 2022 earnings call

Safe Harbor for Forward-Looking Statements

Except for historical information herein, this presentation includes "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about management's expectations about Organon's future financial performance and prospects. 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, an inability to execute on our business development strategy or realize the benefits of our planned acquisitions; general economic factors, including interest rate and currency exchange rate fluctuations; general industry conditions and competition; the impact of the ongoing COVID-19 pandemic and emergence of variant strains; 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; difficulties developing and sustaining relationships with commercial counterparties; 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 the company's Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent SEC filings, available at the SEC's Internet site (www.sec.gov).

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Disclaimer statement, cont.

Non-GAAP Information

This presentation contains "non-GAAP financial measures," which are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with U.S. generally accepted accounting principles ("GAAP"). Specifically, the company makes use of the non-GAAP financial measures Adjusted EBITDA, Adjusted Net Income, and Adjusted diluted EPS, which are not recognized terms under GAAP and are presented only as a supplement to the company's GAAP financial statements. The company believes that these non-GAAP financial measures help to enhance an understanding of the

company's financial performance. However, the presentation of these measures has limitations as an analytical tool and should not be

considered in isolation, or as a substitute for the company's results as reported under GAAP. Because not all companies use identical calculations, the presentations of these non-GAAP measures may not be comparable to other similarly titled measures of other companies. You should refer to the appendix of this presentation for relevant definitions and reconciliations of non-GAAP financial measures contained herein to the most directly comparable GAAP measures. In addition, the company's full-year 2022 guidance measures (other than revenues) are provided on a non-GAAP basis because the company is unable to reasonably predict certain items contained in the GAAP measures. Such items include, but are not limited to, acquisition related expenses, restructuring and related expenses, stock-based compensation and other items not reflective of the company's ongoing operations. The company uses non-GAAP financial measures in its operational and financial decision making, and believes that it is useful to exclude certain items in order to focus on what it regards to be a more meaningful representation of the underlying operating performance of the business.

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Second quarter 2022 highlights

  • All franchises show growth Ex-FX
  • Improved trajectory for Established Brands
  • Expanded biosimilars portfolio with additional R&D collaborator; Shanghai Henlius Biotech Inc.
    • Revenues of $1,585 million
    • $512 million Adjusted EBITDA, inclusive of $97M in acquired
      IPR&D and milestones
    • $1.25 Adjusted EPS from continuing operations, inclusive of negative $0.30 impact from acquired IPR&D and milestones

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Balancing commercial and pipeline business development

Commercialized/soon to be

commercialized assets

  • March 2022 - Licensing agreement for Xaciato
  • February 2022 - Acquisition of commercial rights to Marvelon™ and Mercilon in certain Asian markets
  • June 2021 - Acq. of Alydia Health and its
    JADA® System

Building a pipeline

  • July 2022 - Licensing agreement for a novel investigational non-hormonal, on-demandcontraceptive candidate with Cirqle Biomedical
  • June 2022 - Licensing agreement to commercialize Investigational Perjeta® (Pertuzumab) and Prolia®/Xgeva®
    (Denosumab) biosimilar candidates
  • July 2021 - Licensing of investigational agent, ebopiprant
  • December 2021 - Acquisition of Forendo Pharma

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This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Organon & Co. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 12:27:06 UTC.


© Publicnow 2022
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08/08Goldman Sachs Trims Organon & Co's Price Target to $38 From $41, Keeps Buy Rating
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Financials (USD)
Sales 2022 6 220 M - -
Net income 2022 988 M - -
Net Debt 2022 7 792 M - -
P/E ratio 2022 8,13x
Yield 2022 3,64%
Capitalization 7 983 M 7 983 M -
EV / Sales 2022 2,54x
EV / Sales 2023 2,33x
Nbr of Employees 9 300
Free-Float 99,9%
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Number of Analysts 9
Last Close Price 31,39 $
Average target price 37,75 $
Spread / Average Target 20,3%
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Managers and Directors
Kevin Ali Chief Executive Officer & Director
Matthew M. Walsh Chief Financial Officer
Carrie Smith Cox Chairman
Sandra Milligan Head-Research & Development
Rachel A. Stahler Chief Information Officer
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