Jersey City, NJ-based pharmaceutical company Organon & Co. has reported a significant change in its executive team. Effective immediately, Susanne Fiedler has stepped down from her role as Chief Commercial Officer as of January 15, 2025. While she has ceased her functions in the current role, Fiedler will continue with the company as a senior advisor until her expected departure on April 30, 2025.
The announcement, made in a filing with the U.S. Securities and Exchange Commission (SEC), did not specify a reason for Fiedler's transition from the Chief Commercial Officer position. The company has not yet announced a successor for the role.
Organon & Co., listed on the New York Stock Exchange under the ticker (NYSE:OGN), specializes in pharmaceutical preparations and is recognized for its contributions to women's health and biosciences.
The leadership change comes at a time when Organon is navigating the complex and competitive pharmaceutical landscape. The company's focus remains on delivering innovative health solutions, and it is expected that the departure of Fiedler will lead to a new appointment who will continue to drive the company's commercial strategies.
In other recent news, Organon & Co. has experienced several significant developments. TD Cowen maintained a Hold rating on Organon's shares, setting a $19.00 price target as analyst coverage transitioned from Steve Scala to Michael Nedelcovych. Key highlights included the anticipated launch of a 5-year Nexplanon product and projected revenues of approximately $150 million for Vtama. The company's focus appears to be on strengthening its balance sheet, potentially limiting business development activities until 2026.
Organon reported a Q3 revenue of $1.6 billion, marking a 5% growth driven by a 6% rise in its women's health franchise and a 17% surge in biosimilars. The FDA extended the review period for Organon's supplemental New Drug Application (sNDA) for VTAMA® cream, intended for treating atopic dermatitis, to March 2025. Despite this delay, Organon anticipates VTAMA will generate approximately $125 million in revenue for the full year 2025.
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