(CercleFinance.com) – Organon stock was trending lower Thursday on Wall Street for its first day of listing as an independent company.
The title is currently losing 5.5%, which brings out a valuation of some 8.5 billion dollars. At the same time, the S&P 500 index – which Organon joined today – drops 0.5%.
Merck announced this morning that it has completed its split process into two separate entities, with Organon formally gaining independence as a separate company today.
This new listed entity brings together the activities of the biopharmaceutical group in women’s health, with Merck retaining anticancer drugs, vaccines and hospital drugs.
Organon – which is present in 58 countries – has a portfolio of 60 drugs and a workforce of around 10,000 employees.
The new group should generate growth of between 1% and 5% this year, with a board of directors mainly made up of women.
While the group has specialized in the fields of contraception and fertility, it also owns biosimilar drugs in immunology, oncology and dermatology.
This split comes as Merck refocuses on oncology, vaccines and hospital drugs (HIV and antibiotic therapy).
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