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Merck announces completion of Organon spinoff

KW captis executive search management consulting leadership board services

Merck has completed the spinoff of Organon, which has now launched as new women’s health company.

Merck has completed the spinoff of Organon, which has now launched as new women’s health company.

Through this transaction, Merck aims to create two patient-focused organisations with improved agility and financial profiles, optimised capital structures, simplified operating models, enhanced strategic and operational focus.

The spinoff is expected to help the company to improve its operating efficiencies by about $1.5bn.

Merck stated that its common shareholders have received cash in lieu of any fractional shares of Organon common stock.

Organon will now start trading separately on the New York Stock Exchange under ‘OGN’ symbol while Merck will continue to trade under ‘MRK’.

Merck president Rob Davis said: “Today marks a significant milestone for both Merck and Organon. Organon is now an independent, publicly traded company with a broad portfolio of important medicines and products, and is fully prepared to deliver sustainable growth and value.

“With leadership in our growth pillars and our robust pipeline, Merck is well positioned for strong long-term growth, with scientific innovation remaining the source of our value creation.”

Organon has launched as the only global health company of its size and will be headquartered in the US.

The company has a majority-female leadership team focused on improving access to contraceptive and fertility products.

It will also conduct education and training programme to help women as well as healthcare professionals to understand their health needs and provide the solutions that are urgently needed.

Organon UK&ENI Cluster managing director Simon Nicholson said: “New acquisitions and partnerships will help Organon expand beyond our core strengths in contraceptives and fertility to meet the health needs of women at all stages of her life.”

This is not a CAPTIS article. Originally, it was published here.