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- Shortly after unveiling plans to spin its women’s health portfolio into the new company Organon, Merck & Co Inc MRK has lined up a buyout deal to get the new company started. It filed Form 10 related to the spin-off earlier this month.
- Organon has struck an up to $240 million deal to acquire Alydia Health that makes a device designed to prevent a mother’s death during childbirth.
- The company’s Jada device is designed to treat postpartum hemorrhage, the excessive bleeding that can follow childbirth.
- The device will be a part of Organon’s portfolio of contraceptive implants and removable birth control, including Nexplanon and NuvaRing, as well as a line of biosimilar drugs developed with Samsung Bioepis.
- Organon’s products posted 2020 revenues of $6.5 billion, but this represents a drop from 2019’s $7.8 billion and 2018’s $8.3 billion.
- First, a $50 million upfront deposit from Merck, followed by $165 million from Organon once it is on its own, is expected before the end of June. An additional $25 million in potential milestones brings the total to $240 million.
- Price Action: MRK shares are down 1.38% at $77.2 in market hours on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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