Organon & Co.

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Organon & Co.
TypePublic company
IndustryPharmaceuticals
PredecessorOrganon International (founded 1923)[1]
Founded2020[2]
Headquarters
Key people
Kevin Ali, CEO
RevenueIncrease $6.5 Billion(2020)[3]
Number of employees
9,000 (2021)
Websiteorganon.com

Organon & Co. is an American pharmaceutical company headquartered in Jersey City, New Jersey.[4] Organon specializes in the following core therapeutic fields: reproductive medicine, contraception, psychiatry, hormone replacement therapy (HRT), and anesthesia. Organon sells to international markets.

History[edit]

Organon was founded by Dr. Saal van Zwanenberg in Oss, the Netherlands, in 1923 as a separate part of the meat factory Zwanenberg's fabrieken. Its first product was insulin in 1923.[5] In the thirties it manufactured estrogens.[5]

In 1948, Organon acquired the Newhouse research site in Scotland, United Kingdom. The production of cortisone was initiated in 1953.[6]

In 1962, it bought the stock of the Nederlandsche Cocaïnefabriek. The company name was changed to Koninklijke Zwanenberg-Organon (KZO), and it merged with the fibre producer AKU in 1969 to become AKZO, later Akzo Nobel. Organon was the human health care business unit of Akzo Nobel. In 2004, Organon acquired active-pharmaceutical-ingredient producer Diosynth.[6]

In November 2007, Schering-Plough acquired Organon BioSciences and veterinary pharmaceutical company Intervet from Akzo Nobel.[7] Schering-Plough transferred Organon to its headquarters in New Jersey.[8] Two years later, Schering-Plough merged with Merck & Co., known as Merck Sharp & Dohme or MSD outside the United States and Canada.[9]

In May 2020, Merck & Co. announced that Organon & Co. will be the name of "the pending spin-off of its women’s health, legacy products, and biosimilars businesses, which the company says is on track to be completed by the end of the first half in 2021."[10] Merck completed the spinoff and Organon & Co. became a publicly traded company on 3 June 2021.[11]

Products[edit]

Products include: Esmirtazapine, Remeron, Remeron SolTab, Sustanon, Deca-Durabolin, Pregnyl, Implanon, NuvaRing, Marvelon, Desolett and a variety of other contraceptive products.

Research compounds[edit]

During its period of independent operation, Organon developed a large number of compounds which were never adopted for medical use, but continue to be used for a variety of scientific research. Notable compounds include:

Medicaid fraud[edit]

In 2007, whistleblower lawsuits were filed against Organon in federal courts in Massachusetts and Texas. Organon was accused of selling its anti-depression medication Remeron at a discount to nursing home pharmacies (in order to encourage use), yet filing claims to Medicare for reimbursement at the full, undiscounted price. Organon agreed to settle the case for $31 million in October 2014.[12]

References[edit]

  1. ^ "Organon International 1923". Science Museum Group. Retrieved 4 June 2021.
  2. ^ "OGN - Organon & Co". Seeking Alpha. Retrieved 4 June 2021.
  3. ^ https://www.businesswire.com/news/home/20210204005437/en/Merck-Announces-Fourth-Quarter-and-Full-Year-2020-Financial-Results
  4. ^ costar.com
  5. ^ a b "Organon History 1920s". Organon. Archived from the original on 9 December 2006. Retrieved 19 June 2010.
  6. ^ a b "81 Years of Organon at a Glance". Organon. Archived from the original on 9 March 2005. Retrieved 19 June 2010.
  7. ^ "Schering-Plough Acquires Organon BioSciences". Medical Net News. 20 November 2007. Retrieved 19 June 2010.
  8. ^ "Why Germany and Much of the European Union is Losing its Pharmaceutical Industry" (PDF). American Enterprise Institute. Archived from the original (PDF) on 9 July 2013. Retrieved 21 February 2013.
  9. ^ "Merck and Schering-Plough to Complete Merger Today" (Press release). Merck & Co. November 3, 2009. Archived from the original on November 7, 2009. Retrieved 2010-07-16.
  10. ^ "Merck & Co. To Move Global HQ; Names Organon as New Spin-off". dcatvci.org. Retrieved 2020-08-19.
  11. ^ "Merck spinoff Organon begins trading on the NYSE today; Organon down 5% (updated)". Seeking Alpha. 3 June 2021. Retrieved 4 June 2021.
  12. ^ Wiessner, Daniel (15 October 2014). "Merck unit to pay $31 mln to settle fraud claims by U.S. states". Reuters. Retrieved 17 February 2021.

External links[edit]