Organon narrows FY23 revenue view to $6.25B-$6.45B, consensus $6.28B

The company is updating its full year 2023 guidance ranges previously provided on May 4, 2023. The range for full year 2023 revenue is narrowed to $6.25 billion to $6.45 billion, which primarily reflects current foreign currency exchange rates. The range for full year Adjusted EBITDA margin is now 31.5% to 33.0% to incorporate the company’s current visibility of IPR&D and milestone expenses expected to be incurred in 2023. Organon’s financial guidance does not assume an estimate for future IPR&D and milestone payments for business development transactions not yet executed.