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Genentech's Susvimo Maintains Vision Over Five Years With Two Refills Per Year in People With Wet Age-Related Macular Degeneration (AMD)

Genentech's Susvimo Maintains Vision Over Five Years With Two Refills Per Year in People With Wet Age-Related Macular Degeneration (AMD)

Business Wire4 days ago
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), announced today new, five-year efficacy, safety and durability data from the Phase III Portal study, a long-term extension of the Phase III Archway study, of Susvimo ® (ranibizumab injection) for the treatment of people with wet AMD. Results show that Susvimo's immediate and predictable durability was sustained over five years, with approximately 95% of people receiving treatment every six months requiring no supplemental treatment before each refill. The data were presented at the American Society of Retina Specialists (ASRS) 2025 Annual Meeting in Long Beach, California.
'These long-term results reinforce Susvimo's ability to maintain vision and retinal drying over a long period of time for people with wet AMD, the leading cause of vision loss in people over age 60,' said Levi Garraway, M.D., Ph.D., Genentech's chief medical officer and head of Global Product Development. 'These robust data reinforce our confidence in Susvimo's unique therapeutic approach, providing an effective alternative to regular eye injections while preserving vision in a sustained manner.'
'People with wet AMD often experience suboptimal outcomes with real-world anti-VEGF treatment, largely due to the frequency of injections,' said study investigator John Kitchens, M.D., Retina Associates of Kentucky, who presented the data at ASRS. 'Continuous delivery of treatment with Susvimo may preserve vision in patients with wet AMD for longer in real-world clinical use than IVT injections.'
In the Portal study (n = 352), people originally treated with Susvimo in Archway continued to receive Susvimo refills every six months (Susvimo cohort; n = 220), while those originally treated with monthly intravitreal (IVT) ranibizumab injections in Archway received Susvimo and then refills every six months (IVT-Susvimo cohort; n = 132).
Five-year results showed consistent and sustained disease control and retinal drying in a population who entered Archway with vision at or near peak levels after receiving an average of five intravitreal injections per standard of care. In the Susvimo cohort, best-corrected visual acuity (BCVA) was 74.4 letters at baseline and 67.6 letters at 5 years. In the IVT-Susvimo cohort, BCVA was 76.3 letters at baseline and 68.6 at 5 years. Half of all patients had better than 20/40 vision at five years (Snellen visual acuity test). Average central subfield thickness (CST) remained stable, with a 1.0 (95% CI: -13.1, 11.1) µm reduction from baseline in the Susvimo cohort, and a 10.3 (95% CI: -25.7, 5.0) µm reduction in the IVT-Susvimo cohort.
The cohort of people who entered the Portal study from Archway is the largest cohort of people with wet AMD to be followed prospectively and continuously for five years in a clinical study.
Susvimo provides continuous delivery of a customized formulation of ranibizumab via the Port Delivery Platform, while other currently approved treatments may require eye injections as often as once per month. The Port Delivery Platform is a refillable eye implant surgically inserted into the eye during a one-time, outpatient procedure, which introduces medicine directly into the eye, addressing certain retinal conditions that can cause vision loss.
About the Archway study and its open-label extension study (Portal)
Archway (NCT03677934) was a randomized, multicenter, open-label Phase III study evaluating the efficacy and safety of Susvimo refilled every six months at fixed intervals, compared to monthly IVT ranibizumab 0.5 mg in 415 people living with wet AMD. Patients were randomized 3:2 to Susvimo (n = 248) or intravitreal (IVT) ranibizumab injections (n = 167). Patients enrolled in Archway were responders to prior treatment with anti-VEGF therapy. In both study arms, patients were treated with at least three anti-VEGF injections within the six months prior to their Archway screening visit, with an average of five anti-VEGF injections before randomization. The primary endpoint of the study was the change in BCVA score from baseline at the average of Week 36 and Week 40. Secondary endpoints include safety, overall change in vision (BCVA) from baseline and change from baseline in center point thickness over time. Patients who completed the study at week 96 were eligible to enter the Portal open-label extension study. In Portal, people originally treated with Susvimo in Archway continued to receive Susvimo refills every six months (Susvimo cohort), while those originally treated with monthly IVT ranibizumab injections in Archway received the Susvimo implant and then refills every six months (IVT-Susvimo cohort). Portal is ongoing.
About Wet Age-Related Macular Degeneration (AMD)
Age-related macular degeneration (AMD) is a condition that affects the macula, the part of the eye that provides sharp, central vision needed for activities like reading. It is a leading cause of blindness for people aged 60 and over in the U.S. Wet, or neovascular, AMD is an advanced form of the disease that can cause rapid and severe vision loss. Approximately 20 million people in the U.S. have some form of AMD, and of those, about 1.5 million have late-stage AMD, which includes wet AMD.
Wet AMD is caused by growth of abnormal blood vessels, also referred to as choroidal neovascularization (CNV), into the macula. These vessels leak fluid and blood and cause scar tissue that destroys the central retina. This process results in a deterioration of sight over a period of months to years.
Genentech is committed to helping people access the medicines they are prescribed and offers comprehensive services for people prescribed Susvimo to help minimize barriers to access and reimbursement. Patients can call 833-EYE-GENE for more information. For people who qualify, Genentech offers patient assistance programs through Genentech Access Solutions. More information is also available at (866) 4ACCESS/(866) 422-2377 or http://www.Genentech-Access.com.
Visit https://www.Susvimo.com for additional information.
Susvimo ® (ranibizumab injection) 100 mg/mL for intravitreal use via ocular implant is a refillable implant surgically inserted into the eye during a one-time, outpatient procedure. Susvimo continuously delivers a customized formulation of ranibizumab over time. Susvimo is indicated for intravitreal use via the Susvimo eye implant only. Ranibizumab is a vascular endothelial growth factor (VEGF) inhibitor designed to bind to and inhibit VEGF-A, a protein that has been shown to play a critical role in the formation of new blood vessels and the leakiness of the vessels. Susvimo was previously called the Port Delivery System with ranibizumab in the U.S.
The customized formulation of ranibizumab delivered by Susvimo is different from the ranibizumab intravitreal injection, a medicine marketed as Lucentis ® (ranibizumab injection), which is approved to treat wet, or neovascular, age-related macular degeneration (AMD) and other retinal diseases. Lucentis was first approved for wet AMD by the FDA in 2006.
Susvimo Indication
Susvimo (ranibizumab injection) 100 mg/mL for intravitreal use via ocular implant is indicated for the treatment of patients with neovascular (wet) age-related macular degeneration (AMD), diabetic macular edema (DME), and diabetic retinopathy (DR) who have previously responded to at least two intravitreal injections of a vascular endothelial growth factor inhibitor medication.
Susvimo Important Safety Information
WARNING: ENDOPHTHALMITIS
The Susvimo implant has been associated with an up to 3-fold higher rate of endophthalmitis than monthly intravitreal injections of ranibizumab.
Warnings and Precautions:
The Susvimo implant and the procedures associated with inserting, filling, refilling, and (if medically necessary) removing the implant can cause other serious side effects, including:
An eye infection (endophthalmitis). Endophthalmitis is an infection of the eyeball that can cause permanent damage to your eye, including blindness. Endophthalmitis requires urgent (same-day) medical or surgical treatment.
A missing layer on top of the white part of the eye (conjunctival erosion). Conjunctival erosion is an area that becomes missing (defect) in the layer (conjunctiva) that covers the white part of the eye, which may result in exposure of the implant. Conjunctival erosion may require surgical treatment.
An opening of the layer that covers the white part of the eye (conjunctival retraction). Conjunctival retraction is an opening or gaping in the layer (conjunctiva) that covers the white part of the eye, which may cause the implant to be exposed. Conjunctival retraction may require surgical treatment.
Tear and separation of layers of the retina (rhegmatogenous retinal detachment). Rhegmatogenous retinal detachment is a tear and separation of one of the layers of the retina in the back of the eye that senses light. Rhegmatogenous retinal detachment requires surgical treatment.
Implant movement (implant dislocation): This movement may require surgical treatment to correct.
Implant damage: Damage to the implant that prevents continued treatment (refills) with Susvimo. If the implant is not able to be properly refilled, a patient's wet AMD may be inadequately treated and a physician may remove the implant and/or change the treatment.
Bleeding (vitreous hemorrhage): Vitreous hemorrhage is bleeding within the gel-like substance (vitreous) inside of your eye. This may require an additional eye surgery.
Bump on top of the white layer of the eye (conjunctival bleb): Conjunctival bleb is a small bulge in the layer (conjunctiva) that covers the white part of the eye where the implant is inserted. This may be due to leakage of fluid from the inside of the eye. This may require medical or surgical treatment.
Temporary decrease in vision after the Susvimo procedure.
Who should not receive Susvimo?
Patients who have an infection in or around their eye, have active inflammation in their eye, or have had an allergic reaction to ranibizumab or any of its ingredients in Susvimo in the past.
Information for patients who are of childbearing potential
If patients are pregnant, think that they might be pregnant, or plan to become pregnant. It is not known if Susvimo will harm an unborn baby. Patients should use birth control (contraception) during treatment with Susvimo and for 12 months after the last refill of Susvimo.
If patients are breastfeeding or plan to breastfeed. Susvimo is not recommended during breastfeeding. It is not known if Susvimo passes into breast milk.
Adverse Reactions
The most common adverse reactions were blood on the white of the eye, redness in the white of the eye, sensitivity to light, and eye pain. These are not all the possible side effects of Susvimo.
You may report side effects to the FDA at (800) FDA-1088 or http://www.fda.gov/medwatch. You may also report side effects to Genentech at (888) 835-2555.
Please see additional Important Safety Information in the full Susvimo Prescribing Information, including BOXED WARNING or visit https://www.Susvimo.com.
About Lucentis ® (ranibizumab injection)
Lucentis ® is a vascular endothelial growth factor (VEGF) inhibitor designed to bind to and inhibit VEGF-A, a protein that is believed to play a critical role in the formation of new blood vessels (angiogenesis) and the hyperpermeability (leakiness) of the vessels.
Lucentis is FDA-approved for the treatment of patients with wet age-related macular degeneration (AMD), macular edema following retinal vein occlusion (RVO), diabetic macular edema (DME), diabetic retinopathy (DR) and myopic choroidal neovascularization (mCNV).
Lucentis was developed by Genentech, a member of the Roche Group. The company retains commercial rights in the United States and Novartis has exclusive commercial rights for the rest of the world.
Outside the United States, Lucentis is approved in more than 120 countries to treat adult patients with wet AMD, and for the treatment of visual impairment due to DME, due to macular edema secondary to both branch retinal vein occlusion (BRVO) and central retinal vein occlusion (CRVO), and due to choroidal neovascularization (CNV).
Lucentis Important Safety Information
Lucentis is contraindicated in patients with ocular or periocular infections or known hypersensitivity to ranibizumab or any of the excipients in Lucentis. Hypersensitivity reactions may manifest as severe intraocular inflammation.
Intravitreal injections, including those with Lucentis, have been associated with endophthalmitis, retinal detachment, and iatrogenic traumatic cataract.
Increases in intraocular pressure have been noted both pre-injection and post-injection with Lucentis.
Although there was a low rate of arterial thromboembolic events (ATEs) observed in the Lucentis clinical trials, there is a potential risk of ATEs following intravitreal use of VEGF inhibitors. ATEs are defined as nonfatal stroke, nonfatal myocardial infarction, or vascular death (including deaths of unknown cause).
Fatal events occurred more frequently in patients with DME and DR at baseline treated monthly with Lucentis compared with control. Although the rate of fatal events was low and included causes of death typical of patients with advanced diabetic complications, a potential relationship between these events and intravitreal use of VEGF inhibitors cannot be excluded.
Retinal vasculitis and/or retinal vascular occlusion have been reported. Patients should be instructed to report any change in vision without delay.
In the Lucentis Phase III clinical trials, the most common ocular side effects included conjunctival hemorrhage, eye pain, vitreous floaters, and increased intraocular pressure. The most common non-ocular side effects included nasopharyngitis, anemia, nausea, and cough.
You may report side effects to the FDA at (800) FDA-1088 or http://www.fda.gov/medwatch. You may also report side effects to Genentech at (888) 835-2555.
For additional safety information, please see Lucentis full Prescribing Information, available here: http://www.gene.com/download/pdf/lucentis_prescribing.pdf.
About Genentech in Ophthalmology
Genentech is researching and developing new treatments for people living with a range of eye diseases that cause significant visual impairment and blindness, including wet age-related macular degeneration (AMD), diabetic macular edema (DME), diabetic retinopathy (DR), geographic atrophy (GA) and other retinal diseases, including rare and inherited conditions.
About Genentech
Founded more than 40 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes medicines to treat patients with serious and life-threatening medical conditions. The company, a member of the Roche Group, has headquarters in South San Francisco, California. For additional information about the company, please visit http://www.gene.com.
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difficulties with performance of third parties Organon relies on for its business growth; the failure of any supplier to provide substances, materials, or services as agreed; the increased cost of supply, manufacturing, packaging, and operations; difficulties developing and sustaining relationships with commercial counterparties; competition from generic products as Organon's products lose patent protection; any failure by Organon to retain market exclusivity for Nexplanon® (etonogestrel implant) or to obtain an additional period of exclusivity in the United States for Nexplanon subsequent to the expiration of the rod patents in 2027; the continued impact of the September 2024 LOE for Atozet™ (ezetimibe and atorvastatin); the success of our efforts to adapt our business and sales strategies to address the changing market and regulatory landscape in order to achieve our business objectives and remain competitive, which may include implementing or continuing to assess product discount programs and wholesaler inventory levels under the relevant agreements for certain products such as Nexplanon; restructurings or other disruptions at the U.S. Food and Drug Administration ('FDA'), the U.S. Securities and Exchange Commission ('SEC') and other U.S. and comparable government agencies; difficulties and uncertainties inherent in the implementation of Organon's acquisition strategy or failure to recognize the benefits of such acquisitions; pricing pressures globally, including rules and practices of managed care groups, judicial decisions and governmental laws and regulations related to Medicare, Medicaid and health care reform, pharmaceutical reimbursement and pricing in general; the impact of higher selling and promotional costs; changes in government laws and regulations in the United States and other jurisdictions, including laws and regulations governing the research, development, approval, clearance, manufacturing, supply, distribution, and/or marketing of our products and related intellectual property, environmental regulations, and the enforcement thereof affecting Organon's business; efficacy, safety or other quality concerns with respect to our marketed products, whether or not scientifically justified, leading to product recalls, withdrawals or declining sales; delays or failures to demonstrate adequate efficacy and safety of Organon's product candidates in pre-clinical and clinical trials, which may prevent or delay the development, approval, clearance, or commercialization of Organon's product candidates; future actions of third parties, including significant changes in customer relationships or changes in the behavior and spending patterns of purchasers of health care products and services, including delaying medical procedures, rationing prescription medications, reducing the frequency of physician visits and forgoing health care insurance coverage; legal factors, including product liability claims, antitrust litigation and governmental investigations, including tax disputes, environmental claims and patent disputes with branded and generic competitors, any of which could preclude commercialization of products or negatively affect the profitability of existing products; lost market opportunity resulting from delays and uncertainties in clinical trials and the approval or clearance process of the FDA and other regulatory authorities; the failure by Organon or its third party collaborators and/or their suppliers to fulfill our or their regulatory or quality obligations, which could lead to a delay in regulatory approval or commercial marketing of Organon's products; cyberattacks on, or other failures, accidents, or security breaches of, Organon's or third-party providers' information technology systems, which could disrupt Organon's operations and those of third parties upon which it relies; increased focus on privacy issues in countries around the world, including the United States, the European Union, and China, and a more difficult legislative and regulatory landscape for privacy and data protection that continues to evolve with the potential to directly affect Organon's business, including recently enacted laws in a majority of states in the United States requiring security breach notification; changes in tax laws including changes related to the taxation of foreign earnings; the impact of any future pandemic, epidemic, or similar public health threat on Organon's business, operations and financial performance; loss of key employees or inability to identify and recruit new employees; changes in accounting pronouncements promulgated by standard-setting or regulatory bodies, including the Financial Accounting Standards Board and the SEC, that are adverse to Organon; and volatility of commodity prices, fuel, shipping rates that impact the costs and/or ability to supply Organon's products. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company's filings with the SEC, including the company's most recent Annual Report on Form 10-K and subsequent SEC filings, available at the SEC's Internet site ( TABLE 2 Organon & Co. Sales by top products (Unaudited, $ in millions) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 ($ in millions) U.S. Int'l Total U.S. Int'l Total U.S. Int'l Total U.S. Int'l Total Women's Health Nexplanon/Implanon NXT $ 163 $ 77 $ 240 $ 171 $ 70 $ 242 $ 339 $ 148 $ 488 $ 324 $ 137 $ 462 Follistim AQ 30 43 74 22 40 62 65 77 142 33 75 108 NuvaRing 7 21 28 10 19 29 13 37 50 26 41 67 Ganirelix Acetate Injection 3 25 27 5 22 27 7 47 54 11 45 56 Marvelon/Mercilon — 33 33 — 41 41 — 72 72 — 73 73 Jada 18 — 18 14 — 14 33 — 33 27 — 27 Other Women's Health (1) 14 27 42 13 23 34 30 57 86 27 52 79 General Medicines Biosimilars Renflexis 46 17 63 56 13 69 90 30 120 111 27 138 Hadlima 36 14 50 20 8 28 69 27 96 42 16 58 Ontruzant 5 26 31 10 38 48 8 41 49 18 69 87 Brenzys — 22 22 — 12 12 — 36 36 — 36 36 Aybintio — 4 4 — 7 7 — 10 10 — 15 15 Tofidence 3 — 3 — — — 3 — 3 — — — Cardiovascular Atozet — 86 86 — 140 140 — 162 162 — 271 271 Zetia 1 72 74 2 73 75 3 156 159 4 155 159 Cozaar/Hyzaar 2 54 56 2 58 60 4 107 111 5 122 127 Vytorin 1 26 27 2 26 28 2 48 50 3 52 56 Rosuzet — 6 6 — 9 9 — 10 10 — 25 25 Other Cardiovascular (1) 1 33 34 1 31 32 1 64 65 1 71 71 Respiratory Singulair 2 64 66 2 90 93 4 136 140 5 186 190 Nasonex — 66 66 — 60 60 — 137 137 — 137 137 Dulera 32 9 41 39 8 47 66 19 84 82 21 103 Clarinex 1 33 34 1 35 35 1 67 68 2 71 73 Other Respiratory (1) 11 3 14 8 4 13 21 6 27 15 6 22 Non-Opioid Pain, Bone and Dermatology Arcoxia — 63 63 — 68 68 — 124 124 — 143 143 Fosamax — 34 34 1 34 35 2 65 67 3 72 74 Diprospan — 41 41 — 37 37 — 71 71 — 66 66 Vtama 29 2 31 — — — 49 6 54 — — — Other Non-Opioid Pain, Bone and Dermatology (1) 4 76 80 5 73 78 7 143 151 9 141 151 Other Propecia 1 30 32 2 27 28 3 55 58 3 47 51 Emgality/Rayvow — 42 42 — 30 30 — 74 74 — 40 40 Proscar — 22 22 — 23 23 — 46 46 1 49 50 Other (1) 3 85 87 2 69 72 5 159 164 7 149 155 Other (2) 1 24 23 — 31 31 1 44 46 (1 ) 61 59 Revenues $ 414 $ 1,180 $ 1,594 $ 388 $ 1,219 $ 1,607 $ 826 $ 2,281 $ 3,107 $ 758 $ 2,471 $ 3,229 Totals may not foot due to rounding. Trademarks appearing above in italics are trademarks of, or are used under license by, the Organon group of companies. (1) Includes sales of products not listed separately. (2) Other includes manufacturing sales to third parties. Expand TABLE 3 Organon & Co. Sales by geographic area (Unaudited, $ in millions) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Europe and Canada $ 419 $ 457 $ 795 $ 907 United States 414 388 826 758 Asia Pacific and Japan 250 260 502 546 China 204 216 409 421 Latin America, Middle East, Russia, and Africa 285 251 524 525 Other (1) 22 35 51 72 (1) Other includes manufacturing sales to third parties. Expand TABLE 4 Organon & Co. Reconciliation of GAAP Reported to Non-GAAP Adjusted Metrics (Unaudited, $ in millions) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP Gross Profit $ 874 $ 939 $ 1,715 $ 1,896 Adjusted for: Spin-related costs (1) — 3 — 6 Manufacturing network costs (2) 33 15 62 25 Stock-based compensation 4 5 8 9 Amortization 53 34 103 67 Acquisition-related costs (3) 10 — 19 — Other 9 — 10 — Adjusted Non-GAAP Gross Profit $ 983 $ 996 $ 1,917 $ 2,003 (1) Spin-related costs include costs from the separation of Merck & Co., Inc., Rahway, NJ, US. For additional details refer to Table 5. (2) Manufacturing network related costs include costs from exiting manufacturing and supply agreements with Merck & Co., Inc., Rahway NJ, US. For additional details refer to Table 5. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP Gross Margin 54.8 % 58.4 % 55.2 % 58.7 % Total impact of Non-GAAP adjustments 6.9 % 3.6 % 6.5 % 3.3 % Adjusted Non-GAAP Gross Margin 61.7 % 62.0 % 61.7 % 62.0 % Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP Selling, general and administrative expenses $ 453 $ 437 $ 873 $ 868 Adjusted for: Spin-related costs (1) — (29 ) — (69 ) Stock-based compensation (14 ) (18 ) (30 ) (36 ) Restructuring related charges (4 ) — (10 ) — Other (26 ) — (29 ) — Adjusted Non-GAAP Selling, general and administrative expenses $ 409 $ 390 $ 804 $ 763 (1) Spin-related costs include costs from the separation of Merck & Co., Inc., Rahway, NJ, US. For additional details refer to Table 5. Expand TABLE 4 Organon & Co. Reconciliation of GAAP Reported to Non-GAAP Adjusted Metrics (Continued) (Unaudited, $ in millions except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP Research and development expenses $ 95 $ 116 $ 191 $ 228 Adjusted for: Spin-related costs (1) — (1 ) — (3 ) Manufacturing network costs (2) (3 ) — (6 ) — Stock-based compensation (4 ) (5 ) (8 ) (9 ) Other — — (1 ) — Adjusted Non-GAAP Research and development expenses $ 88 $ 110 $ 176 $ 216 (1) Spin-related costs include costs from the separation of Merck & Co., Inc., Rahway, NJ, US. For additional details refer to Table 5. (2) Manufacturing network related costs include costs from exiting manufacturing and supply agreements with Merck & Co., Inc., Rahway NJ, US. For additional details refer to Table 5. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP Reported Net Income $ 145 $ 195 $ 232 $ 396 Adjusted for: Cost of sales adjustments 109 57 202 107 Selling, general and administrative adjustments 44 47 69 105 Research and development adjustments 7 6 15 12 Restructuring 2 — 88 23 Change in fair value of contingent consideration 12 — 23 — Other (gain) expense, net (45 ) 6 (41 ) 10 Tax impact on adjustments above (1) (13 ) (22 ) (62 ) (49 ) Non-GAAP Adjusted Net Income $ 261 $ 289 $ 526 $ 604 (1) For the three months ended June 30, 2025 and 2024, the GAAP income tax rates were 37.0% and 17.3%, respectively, and the non-GAAP income tax rates were 27.2% and 17.8%, respectively. For the six months ended June 30, 2025 and 2024, the GAAP income tax rates were 29.8% and 16.0%, respectively, and the non-GAAP income tax rates were 23.4% and 17.1%, respectively. These adjustments represent the estimated tax impacts on the reconciling items by applying the statutory rate and applicable law of the originating territory of the non-GAAP adjustments. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP Diluted Earnings per Share $ 0.56 $ 0.75 $ 0.89 $ 1.53 Total impact of Non-GAAP adjustments 0.44 0.37 1.13 0.81 Non-GAAP Adjusted Diluted Earnings per Share $ 1.00 $ 1.12 $ 2.02 $ 2.34 Expand TABLE 5 Organon & Co. Reconciliation of GAAP Net Income to Non-GAAP Adjusted EBITDA (Unaudited, $ in millions) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP Reported Net Income $ 145 $ 195 $ 232 $ 396 Depreciation (1) 33 31 65 61 Amortization 53 34 103 67 Interest expense 131 131 255 262 Income tax expense 84 40 98 75 EBITDA (Non-GAAP) $ 446 $ 431 $ 753 $ 861 Restructuring and related charges 6 — 98 23 Spin-related costs (2) — 39 — 88 Manufacturing network related (3) 36 15 72 25 Acquisition-related costs (4) 10 — 19 — Change in contingent consideration 12 — 23 — Other (income) costs (5) (10 ) — (5 ) — Stock-based compensation 22 28 46 54 Adjusted EBITDA (Non-GAAP) $ 522 $ 513 $ 1,006 $ 1,051 Adjusted EBITDA margin (Non-GAAP) 32.7 % 31.9 % 32.4 % 32.5 % (1) Excludes accelerated depreciation included in one-time costs. (2) Spin-related costs reflect certain costs incurred in connection with activities taken to separate Organon from Merck & Co., Inc., Rahway, NJ, US. These costs include, but are not limited to, $19 million and $40 million for the three and six months ended June 30, 2024, respectively, for information technology infrastructure, primarily related to the implementation of a stand-alone enterprise resource planning system and redundant software licensing costs, as well as $6 million and $20 million for the three and six months ended June 30, 2024, respectively, associated with temporary transition service agreements with Merck & Co., Inc., Rahway, NJ, US. (3) Manufacturing network related costs, including exiting of temporary manufacturing and supply agreements with Merck & Co., Inc., Rahway, NJ, US, reflect accelerated depreciation, exit premiums, technology transfer costs, stability and qualification batch costs, and third-party contractor costs. (4) Acquisition related costs for the three and six months ended June 30, 2025, reflect the amortization pertaining to the fair value inventory purchase accounting adjustment for the Dermavant transaction. (5) Other (income) costs for the three and six months ended June 30, 2025 include $46 million pre-tax gain related to the repurchase and cancellation of approximately $242 million of the 2031 Notes and the repayment and termination of the funding agreement with NovaQuest Co-Investment Fund VIII, L.P. and legal settlement reserves. As the costs described in (1) through (5) above are directly related to the separation of Organon and acquisition related activities and therefore arise from a one-time event outside of the ordinary course of the company's operations, the adjustment of these items provides meaningful, supplemental, information that the company believes will enhance an investor's understanding of the company's ongoing operating performance. Expand

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