Organon announced on October 9, 2024, that it expects to record a $51 million milestone expense in the third quarter of 2024. This expense is projected to impact both GAAP and non-GAAP earnings per share by approximately $0.16.
The anticipated milestone expense primarily relates to a denosumab biosimilar candidate, which is progressing under the company’s license agreement with Shanghai Henlius Biotech, Inc. Organon typically does not forecast IPR&D or milestone expenses due to their uncertain timing.
This $51 million charge was not included in the financial guidance provided on August 6, 2024. The company's third-quarter results are subject to finalization, and actual results may differ from these preliminary estimates.
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