Organon falls as CEO resigns after probe into contraceptive sales

Organon & Co.

27/10/2025 12:07

** Shares of healthcare firm Organon OGN.N fall 18.12% to $7.50 premarket

** Co says Kevin Ali resigns as CEO; Joseph Morrissey to take over role on interim basis while board initiates search for a permanent replacement

** An investigation found that certain wholesalers in the U.S. were asked to buy more Nexplanon, a birth control implant, than they needed to at the end of Q4 of 2022, Q3 and Q4 of 2024 and Q1-Q3 of 2025

** The sales represented less than 1% of co's consolidated revenue for the year ended December 31, 2022, or December 31, 2024, as applicable but enabled OGN to meet expectations

     ** In connection with the investigation, co has also terminated the employment of its Head of U.S. commercial and government affairs

** Ali will not be entitled to severance or equity-related retirement benefits in connection with his resignation

** OGN shares down ~38% YTD

 (Reporting by Sriparna Roy in Bengaluru)

 ((Sriparna.Roy@thomsonreuters.com;))