Organon reported fourth quarter 2024 total revenue of $1.592 billion, which was flat on both an as-reported and ex-FX basis compared to the fourth quarter of 2023. Full year 2024 revenue reached $6.403 billion, an increase of 2% as-reported and 3% ex-FX over 2023, marking the company's third consecutive year of constant currency revenue growth.
Key growth drivers included Nexplanon, which grew 12% ex-FX in Q4 and 17% ex-FX for the full year to $963 million. Hadlima sales continued to ramp up following its U.S. launch in July 2023, contributing to a 12% ex-FX increase in Biosimilars revenue for the full year. Contributions from Emgality and Vtama partially offset the impact of Atozet's loss of exclusivity in Europe and Japan.
Net income for Q4 2024 was $109 million, or $0.42 per diluted share, while full year 2024 net income was $864 million, or $3.33 per diluted share. Non-GAAP Adjusted EBITDA margin for full year 2024 was 30.6%. For 2025, Organon guided for revenue in the range of $6.125 billion to $6.325 billion, representing flat constant currency performance despite a $200 million headwind from Atozet LOE. Adjusted EBITDA margin for 2025 is projected to be between 31.0% and 32.0%.
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