Organon reported third quarter 2024 total revenue of $1.582 billion, an increase of 4% as-reported and 5% excluding the impact of foreign currency (ex-FX) compared to the third quarter of 2023. This performance was driven by strong growth in Women's Health and Biosimilars.
Women's Health revenue increased 6% ex-FX, primarily due to 11% ex-FX growth in Nexplanon, which benefited from increased demand and favorable pricing in the U.S. Biosimilars revenue grew 17% ex-FX, largely due to the uptake of Hadlima since its July 2023 U.S. launch. Established Brands revenue grew 3% ex-FX, with contributions from the recent licensing of Emgality and growth in China.
Net income for the quarter was $359 million, or $1.38 per diluted share, compared with $58 million, or $0.23 per diluted share, in Q3 2023. Non-GAAP Adjusted net income was $226 million, or $0.87 per diluted share, consistent with the prior year. The company updated its full-year 2024 revenue guidance to a range of $6.375 billion to $6.425 billion, narrowing from the previous range, and adjusted its Adjusted EBITDA margin guidance to 30.0%-31.0% due to higher IPR&D expense.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.