Organon & Co. (OGN) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 4, 2022 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by. At this time, I would like to welcome everyone to Organon Second Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. Thank you. I would now like to turn the call over to Jennifer Halchak, Vice President of Investor Relations. Please begin your conference.

Jennifer Halchak

Thank you, Chantel and good morning everyone. Thank you for joining Organon’s second quarter 2022 earnings call. With me today are Kevin Ali, Organon’s Chief Executive Officer, who will cover strategy and operational highlights; and Matt Walsh, our Chief Financial Officer, who will review performance, guidance and capital allocation. Dr. Sandra Milligan, Organon’s Head of R&D will also be joining us for the Q&A portion of this call.

Today, we will be referencing a presentation that will be visible during this call for those of you on our webcast. This presentation will also be available following this call on the Events and Presentations section of our Organon Investor Relations website at www.organon.com.

Before we begin, I would like to caution listeners that certain information discussed by management during this conference call will include forward-looking statements. Actual results could differ materially from those stated or implied by forward-looking statements due to risks and uncertainties associated with the company’s business, which are discussed in the company’s filings with the Securities and Exchange Commission, including our 10-K and subsequent periodic filings.

In addition, we will discuss certain non-GAAP financial measures on this call, which should be considered a supplement to and not a substitute for financial measures prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to the comparable GAAP measures is included in the presentation and conference call presentation.

I would now turn the call over to our CEO, Kevin Ali.

Kevin Ali

Good morning, everyone and thank you Jen. Welcome to today’s call where we will talk about our second quarter 2022 results. Our second quarter 2022 results round out one full year as a standalone publicly traded company. And today, I am proud to be reporting our third consecutive quarter of product sales growth and solid progress against our stated objectives.

Now despite a challenging global macroeconomic and geopolitical environment, during the second quarter, we delivered growth across all reportable geographies and in all three franchises. We even saw growth in China despite the negative impact from the COVID-related lockdowns. And in our LAMERA region, where our growth in Latin America offset the negative impacts associated with the war in the Ukraine.