Organon & Co.
OGN evidence brief
What we can confirm
- BioSniper Score:
- 4.6 / 10
- Market Cap:
- $3.61B
- Lead Asset:
- HLX11
What it means
What to watch
Prepared research question
What matters most for OGN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · OGN
Organon & Co. (OGN) is a global healthcare company focused on women's health, with a portfolio of over 70 medicines and products, including biosimilars and dermatology assets, and reported $1.558 billion in revenue for the six months ended June 30, 2026 [sec_mda · as of 2026-07-31] [latest reported financials].
Key risk: Restructuring costs
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 21 clinical trials for Organon & Co..
Organon & Co. (OGN) is a global healthcare company focused on women's health, with a portfolio of over 70 medicines and products, including biosimilars and dermatology assets, and reported $1.558 billion in revenue for the six months ended June 30, 2026 [sec_mda · as of 2026-07-31] [latest reported financials].
- Organon reported cash & equivalents of $1,132.0M, total revenue of $1,558.0M, net income of $108.0M, and shareholders' equity of $1,006.0M as of June 30, 2026 [latest reported financials].
- The company has a portfolio of more than 70 medicines and products across a range of therapeutic areas, with a primary focus on improving the health of women throughout their lives [sec_mda · as of 2026-07-31].
- In 2025, the biosimilars franchise exceeded expectations, with Hadlima (adalimumab-bwwd) sales growing 61% ex-FX globally, and Vtama (tapinarof) delivered $128 million of global revenue in its first full year [sec · filed 2026-04-24].
- Organon received FDA acceptance to review a supplemental New Drug Application for its hormone-free contraceptive device MIUDELLA, with plans for commercial availability subject to regulatory review [news · published 2026-09-22].
- The company discontinued clinical development programs for investigational candidates OG-6219 and OG-7191 in 2025, and incurred restructuring costs of $31 million in the first half of 2026 related to restructuring initiatives [sec_mda · as of 2026-07-31].
What works
- Strong biosimilars performance: Hadlima sales grew 61% ex-FX globally in 2025, and the biosimilars franchise exceeded expectations [sec · filed 2026-04-24].
- New product traction: Vtama (tapinarof) generated $128 million in global revenue in its first full year, establishing a solid trajectory for the dermatology asset [sec · filed 2026-04-24].
- Diversified portfolio: Organon has a portfolio of more than 70 medicines and products across therapeutic areas, reducing reliance on any single product [sec_mda · as of 2026-07-31].
What to weigh
- Restructuring costs: The company incurred $31 million in restructuring costs in the first half of 2026 to streamline R&D, indicating ongoing operational adjustments [sec_mda · as of 2026-07-31].
- Discontinued programs: Clinical development for candidates OG-6219 and OG-7191 was discontinued in 2025, and an agreement with Suzhou Centergene Pharmaceuticals was exited, reflecting pipeline setbacks [sec_mda · as of 2026-07-31].
- Pricing and regulatory pressures: Organon faces pricing pressures globally, including from managed care groups, government regulations, and international reference pricing, which could impact profitability [sec_mda · as of 2026-07-31].
From the filings
Quoted directly from source documents.
Organon's primary focus is improving the health of women throughout their lives.
“We are a global healthcare company with a primary focus on improving the health of women throughout their lives.”
SEC MD&A · July 31, 2026
Hadlima sales grew 61% ex-FX globally in 2025.
“Hadlima TM (adalimumab-bwwd) sales, which grew 61% ex-FX, globally for the year.”
SEC filings · April 24, 2026
Organon has a portfolio of more than 70 medicines and products.
“We have a portfolio of more than 70 medicines and products across a range of therapeutic areas.”
SEC MD&A · July 31, 2026
Organon received FDA acceptance to review a sNDA for MIUDELLA.
“Organon (NYSE: OGN) received FDA acceptance to review a supplemental New Drug Application for its hormone free contraceptive device MIUDELLA.”
News · September 22, 2026
Risks & what to watch (3)›
Key risks
- Restructuring costs — Incurred $31M in restructuring costs in H1 2026, indicating ongoing operational changes [sec_mda · as of 2026-07-31].
- Pipeline discontinuations — Discontinued clinical programs for OG-6219 and OG-7191 in 2025, and exited a fertility agreement [sec_mda · as of 2026-07-31].
- Pricing and regulatory pressures — Faces global pricing pressures from managed care, government regulations, and international reference pricing [sec_mda · as of 2026-07-31].
What to watch
- FDA review outcome for MIUDELLA sNDA and subsequent commercial launch execution [news · published 2026-09-22].
- Impact of 2026 restructuring initiatives on R&D efficiency and cost structure [sec_mda · as of 2026-07-31].
- Biosimilars franchise performance, particularly Hadlima market share and revenue trends [sec · filed 2026-04-24].
- Potential strategic transactions, as indicated by Board discussions with Sun Pharma regarding a potential transaction [sec · filed 2026-07-17].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 8, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 12.10 · 3% dilution
No tracked pipeline phase
1 candidate
No upcoming catalysts tracked
1 buy · 1 sell (180d)
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
603
Total value held
$1.14B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 31,717,028 | $190.0M |
| vanguard portfolio management llc | 21,846,036 | $130.9M |
| vanguard capital management llc | 11,737,018 | $70.3M |
| state street corp | 9,956,774 | $59.6M |
| millennium management llc | 6,781,535 | $40.6M |
| kahn brothers group inc | 5,536,993 | $33.2M |
| canada pension plan investment board | 5,011,100 | $30.0M |
| geode capital management, llc | 4,759,337 | $28.5M |
| private management group inc | 4,374,108 | $26.2M |
| think investments lp | 4,000,000 | $24.0M |
Showing top 10 of 603 institutional holders of Organon & Co.. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 8.4%
- Days to cover
- 1.2
- Shares short
- 19,493,725
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
OGN short interestGovernance
Frequently asked questions
What is the AI investment thesis for Organon & Co.?
Organon & Co. (OGN) is a global healthcare company focused on women's health, with a portfolio of over 70 medicines and products, including biosimilars and dermatology assets, and reported $1.558 billion in revenue for the six months ended June 30, 2026 [sec_mda · as of 2026-07-31] [latest reported financials].
Who is the CEO of Organon & Co.?
Mr. Joseph T. Morrissey Jr. is the chief executive officer of Organon & Co. (OGN).
Where is Organon & Co. headquartered?
Organon & Co. (OGN) is headquartered in Jersey City, NJ, United States.
What therapeutic areas does Organon & Co. focus on?
Organon & Co. develops therapies across Oncology, Immunology, Cardiovascular, Pain, Dermatology, Reproductive.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.