Specialist
Former VP at Merck & Co Inc
Agenda
- Women's health market and assessment of Merck's (NYSE: MRK) spin-off of Organon
- Organon's portfolio, including biosimilars, NuvaRing, Nexplanon (etonogestrel implant), Vytorin (ezetimibe and simvastatin) and Zetia (ezetimibe)
- Organon's acquisition of Forendo Pharma and outlook for M&A activity
- Growth outlook including strategy, performance and international expansion potential
Questions
1.
What are the key trends and themes in the women’s health sector and how do they impact Organon?
2.
Could you discuss Merck’s strategy of spinning off its women’s health portfolio, now Organon? Do you
think this was the right move?
3.
The women’s health portfolio under Merck had been declining since 2018. Do you think this underperformance was due to the markets or areas where the portfolio played in or due to a lack of focus and expertise from Merck? How might this differ under Organon’s leadership?
4.
What are your post-pandemic expectations for the contraceptive implant Nexplanon [etonogestrel
implant], which leads Organon’s portfolio? Sales for this product declined by 14% in 2020, largely due to
women delaying or cancelling elective surgery during the pandemic.
5.
Do you think Organon’s management’s expectation of double-digit revenue growth for Nexplanon is
feasible?
6.
How hopeful are you that Organon’s five-year Nexplanon study will be a success and achieve the three-year
patent extension you outlined? What should we continue to monitor?
7.
What are your thoughts on the growth potential or remaining growth opportunity for fertility treatments
Follistim [follitropin beta injection], Orgalutran [ganirelix acetate injection] and Elonva [corifollitropin alfa],
which Organon’s management considers to be key growth drivers?
8.
What are your thoughts on Organon’s ability to make up for any future loss of exclusivity? What pipeline assets may position the company to make up for any revenue losses? What are your general thoughts on its R&D capabilities?
9.
You mentioned that Organon will have 7-8 biosimilar launches from 2023 onward. How are you assessing
these products’ potential? Where are you most hopeful for success? What sales do you expect across these
launches?
10.
How might Samsung’s rumoured acquisition of Biogen impact Organon’s role as a commercialisation
partner for Samsung?
11.
Could you assess Organon’s December 2021 acquisition of Forendo Pharma for an initial USD 75m? What gaps does it fill? There are some who claim that Forendo is too early-stage and expensive, and have some hesitations on the area that it would be allowing Organon to expand into.
12.
What are your growth expectations for the Jada System, which came out of Organon’s June 2021
acquisition of Alydia? What’s the broader perception of the device?
13.
Do you think Organon will be the main player that will acquire other women’s health portfolios being
divested? What other viable options are there for acquisitions in women’s health as the company attempts to
drive focus and growth?
14.
Organon considers its established medicines legacy franchise a support beam that could provide necessary
cash flow to its aspirations elsewhere. What’s your assessment of this franchise’s top products?
15.
What are the key threats to the main products in Organon’s established medicines legacy franchise?
16.
You highlighted the importance of global expansion and leverage, including Organon’s presence in fastgrowing international markets. What might be the company’s other international opportunities? How do you hope this will evolve?
17.
What is your near-to-mid-term outlook for Organon? What should we continue to monitor? Is there
anything else you would like to discuss?
Gain access to Premium Content
Submit your details to access up to 5 Forum Transcripts or to request a complimentary one week trial.
The information, material and content contained in this transcript (“Content”) is for information purposes only and does not constitute advice of any type or a trade recommendation and should not form the basis of any investment decision.This transcript has been edited by Third Bridge for ease of reading. Third Bridge Group Limited and its affiliates (together “Third Bridge”) make no representation and accept no liability for the Contentor for any errors, omissions or inaccuracies in respect of it. The views of the specialist expressed in the Content are those of the specialist and they are not endorsed by, nor do they represent the opinion of, Third Bridge. Third Bridge reserves all copyright, intellectual and other property rights in the Content. Any modification, reformatting, copying, displaying, distributing, transmitting, publishing, licensing, creating derivative works from, transferring or selling any Content is strictly prohibited