Organon & Co. reported its first quarter 2025 financial results, highlighting a net income of $87 million and an Adjusted EBITDA of $484 million, achieving an Adjusted EBITDA margin of 32.0%. The company's diluted earnings per share for the quarter stood at $0.33, with non-GAAP Adjusted diluted earnings per share at $1.02. There was a notable decline in non-GAAP Adjusted net income, which was $265 million or $1.02 per diluted share for Q1 2025, compared to $315 million or $1.22 per diluted share in the same quarter of 2024. The Adjusted EBITDA margin also saw a decrease from 33.2% in Q1 2024 to 32.0% in Q1 2025, primarily due to a reduction in Adjusted gross profit, despite a 1% decrease in non-GAAP operating expenses year-over-year. Segment-wise, Women's Health sales increased by 10%, reaching $463 million, while Biosimilars and Established Brands experienced declines of 17% and 11%, respectively. In terms of business updates, Organon's Board of Directors declared a revised quarterly dividend of $0.02 per share, down from the previous rate of $0.28, to be paid on June 12, 2025. The company is focusing on deleveraging to achieve a net leverage ratio below 4.0x by year-end, and it reaffirmed its full-year revenue and Adjusted EBITDA margin guidance, targeting over $900 million in free cash flow before one-time costs. As of March 31, 2025, Organon held $547 million in cash and cash equivalents, with a debt of $8.96 billion.