Organon reported first quarter 2025 total revenue of $1.513 billion, a decrease of 7% as-reported and 4% ex-FX compared to the first quarter of 2024. This decline was consistent with the phasing of the Loss of Exclusivity (LOE) for Atozet.
Despite the overall revenue decline, Women’s Health revenue increased 12% ex-FX, driven by 14% ex-FX growth in Nexplanon. Biosimilars revenue declined 15% ex-FX due to normalized volumes for Ontruzant in Brazil and competitive pressures on Renflexis, partially offset by Hadlima's continued uptake. Established Brands revenue declined 8% ex-FX, impacted by Atozet LOE, but partially offset by contributions from Emgality and Vtama.
Net income for the quarter was $87 million, or $0.33 per diluted share, compared with $201 million, or $0.78 per diluted share, in Q1 2024. Non-GAAP Adjusted net income was $265 million, or $1.02 per diluted share. Organon affirmed its full year 2025 financial guidance for revenue and Adjusted EBITDA margin. Concurrently, the Board of Directors declared a quarterly dividend of $0.02 per share, a significant revision from the prior rate of $0.28 per share, to accelerate debt reduction and strengthen the capital structure.
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