ORGANON & CO., 10-Q filed on 7/31/2026
Quarterly Report
v3.26.1
Cover - shares
 6 Months Ended
Jun. 30, 2026
Jul. 24, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2026  
Document Transition Report false  
Entity File Number 001-40235  
Entity Registrant Name Organon & Co.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 46-4838035  
Entity Address, Address Line One 30 Hudson Street, Floor 33  
Entity Address, City or Town Jersey City,  
Entity Address, State or Province NJ  
Entity Address, Postal Zip Code 07302  
City Area Code (551)  
Local Phone Number 430-6900  
Title of 12(b) Security Common Stock ($0.01 par value)  
Trading Symbol OGN  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   262,609,433
Entity Central Index Key 0001821825  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
v3.26.1
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenues $ 1,558 $ 1,594 $ 3,018 $ 3,107
Cost of sales 711 720 1,388 1,392
Gross profit 847 874 1,630 1,715
Selling, general and administrative 434 453 858 873
Research and development 90 95 183 191
Acquired in-process research and development and milestones 1 0 1 6
Restructuring costs 0 2 31 88
Interest expense 108 131 219 255
Exchange losses (gains) 2 (1) 9 (5)
Other expense (income), net 29 (35) (67) (23)
Income before income taxes 183 229 396 330
Income tax expense 75 84 142 98
Net income $ 108 $ 145 $ 254 $ 232
Earnings per share:        
Basic (in dollars per share) $ 0.41 $ 0.56 $ 0.97 $ 0.90
Diluted (in dollars per share) $ 0.40 $ 0.56 $ 0.95 $ 0.89
Weighted average shares outstanding:        
Basic (in shares) 262,611 259,939 261,497 258,906
Diluted (in shares) 270,449 260,156 266,679 260,584
v3.26.1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Comprehensive Income [Abstract]        
Net income $ 108 $ 145 $ 254 $ 232
Other Comprehensive (Loss) Income, Net of Taxes:        
Benefit plan net gain and prior service credit, net of amortization 0 0 1 0
Cumulative translation adjustment (9) 45 (22) 77
Other comprehensive income (loss) (9) 45 (21) 77
Comprehensive income $ 99 $ 190 $ 233 $ 309
v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 1,132 $ 574
Accounts receivable (net of allowance for doubtful accounts of $13 in 2026 and $12 in 2025) 1,492 1,331
Inventories (excludes inventories of $273 in 2026 and $236 in 2025 classified in Other assets) 1,351 1,406
Other current assets 1,136 1,033
Assets held for sale 0 8
Total Current Assets 5,111 4,352
Property, plant and equipment, net 1,281 1,303
Goodwill 4,153 4,153
Intangibles, net 1,112 1,130
Other assets 1,521 1,539
Noncurrent assets held for sale 0 390
Total Assets 13,178 12,867
Current Liabilities:    
Current portion of long-term debt and short-term borrowings 74 16
Trade accounts payable 1,051 952
Accrued and other current liabilities 1,407 1,335
Income taxes payable 84 85
Liabilities held for sale 0 2
Total Current Liabilities 2,616 2,390
Long-term debt 8,479 8,628
Deferred income taxes 51 57
Other noncurrent liabilities 1,026 1,008
Noncurrent liabilities held for sale 0 32
Total Liabilities 12,172 12,115
Contingencies (Note 15)
Organon & Co. Stockholders’ Equity:    
Common stock, $0.01 par value Authorized - 500,000 Issued and outstanding - 262,609 in 2026 and 260,316 in 2025 3 3
Additional paid-in capital 199 167
Retained earnings 1,352 1,109
Accumulated other comprehensive loss (548) (527)
Total Stockholders’ Equity 1,006 752
Total Liabilities and Stockholders’ Equity $ 13,178 $ 12,867
v3.26.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts $ 13 $ 12
Inventories classified in other assets $ 273 $ 236
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 500,000,000 500,000,000
Common stock, issued (in shares) 262,609,000 260,316,000
Common stock, outstanding (in shares) 262,609,000 260,316,000
v3.26.1
Condensed Consolidated Statements of Stockholders’ Equity - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Dec. 31, 2024   257,799      
Beginning balance at Dec. 31, 2024 $ 472 $ 3 $ 108 $ 1,010 $ (649)
Stockholders' Equity [Roll Forward]          
Net income 232     232  
Other comprehensive income (loss), net of tax 77       77
Cash dividends declared on common stock (79)     (79)  
Stock-based compensation plans and other (in shares)   2,166      
Stock-based compensation plans and other 31   31    
Ending balance (in shares) at Jun. 30, 2025   259,965      
Ending balance at Jun. 30, 2025 733 $ 3 139 1,163 (572)
Beginning balance (in shares) at Mar. 31, 2025   257,950      
Beginning balance at Mar. 31, 2025 542 $ 3 130 1,026 (617)
Stockholders' Equity [Roll Forward]          
Net income 145     145  
Other comprehensive income (loss), net of tax 45       45
Cash dividends declared on common stock (8)     (8)  
Stock-based compensation plans and other (in shares)   2,015      
Stock-based compensation plans and other 9   9    
Ending balance (in shares) at Jun. 30, 2025   259,965      
Ending balance at Jun. 30, 2025 733 $ 3 139 1,163 (572)
Beginning balance (in shares) at Dec. 31, 2025   260,316      
Beginning balance at Dec. 31, 2025 752 $ 3 167 1,109 (527)
Stockholders' Equity [Roll Forward]          
Net income 254     254  
Other comprehensive income (loss), net of tax (21)       (21)
Cash dividends declared on common stock (11)     (11)  
Stock-based compensation plans and other (in shares)   2,293      
Stock-based compensation plans and other 32   32    
Ending balance (in shares) at Jun. 30, 2026   262,609      
Ending balance at Jun. 30, 2026 1,006 $ 3 199 1,352 (548)
Beginning balance (in shares) at Mar. 31, 2026   262,649      
Beginning balance at Mar. 31, 2026 903 $ 3 186 1,253 (539)
Stockholders' Equity [Roll Forward]          
Net income 108     108  
Other comprehensive income (loss), net of tax (9)       (9)
Cash dividends declared on common stock (9)     (9)  
Stock-based compensation plans and other (in shares)   (40)      
Stock-based compensation plans and other 13   13    
Ending balance (in shares) at Jun. 30, 2026   262,609      
Ending balance at Jun. 30, 2026 $ 1,006 $ 3 $ 199 $ 1,352 $ (548)
v3.26.1
Condensed Consolidated Statements of Stockholders’ Equity (Parenthetical) - $ / shares
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Stockholders' Equity [Abstract]        
Common stock dividends declared (in dollars per share) $ 0.02 $ 0.02 $ 0.04 $ 0.30
v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities    
Net income $ 254 $ 232
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation 73 70
Amortization 93 103
Impairment of assets 0 9
Acquired in-process research and development and milestones 1 6
Accretion and changes in fair value in contingent consideration 4 23
Deferred income tax expense (benefit) 19 (7)
Stock-based compensation 44 46
Unrealized foreign exchange (gain) loss (9) 1
Gain on sale of Jada (81) 0
Gain on debt repurchase 0 (46)
Other 17 44
Net changes in assets and liabilities, net of assets acquired    
Accounts receivable (176) (76)
Inventories (24) (31)
Other current assets (91) (78)
Trade accounts payable 106 (109)
Accrued and other current liabilities 75 (59)
Income taxes payable 3 46
Other 24 121
Net Cash Flows Provided by Operating Activities 332 295
Cash Flows from Investing Activities    
Capital expenditures (79) (71)
Proceeds from sale of property, plant and equipment 0 1
Acquired in-process research and development and milestones (10) (10)
Proceeds from sale of Jada 433 0
Dermavant acquisition, net of cash acquired 0 (75)
Purchase of product rights and asset acquisition (34) (55)
Net Cash Flows Provided by (Used) in Investing Activities 310 (210)
Cash Flows from Financing Activities    
Proceeds from debt 0 430
Repayments of debt (32) (634)
Employee withholding taxes related to stock-based awards (7) (13)
Dividend payments (11) (81)
Net Cash Flows Used in Financing Activities (50) (298)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (34) 137
Net Increase (Decrease) in Cash and Cash Equivalents 558 (76)
Cash and Cash Equivalents, Beginning of Period 574 675
Cash and Cash Equivalents, End of Period $ 1,132 $ 599
v3.26.1
Background and Nature of Operations
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Background and Nature of Operations Background and Nature of Operations
Organon & Co. (“Organon” or the “Company”) is a global healthcare company with a mission to deliver impactful medicines and solutions for a healthier every day. With a portfolio of over 70 products across women’s health and general medicines, which includes biosimilars, Organon focuses on addressing health needs that uniquely, disproportionately or differently affect women, while expanding access to essential treatments in over 140 countries and territories. The Company sells these products through various channels including drug wholesalers and retailers, hospitals, government agencies and managed healthcare providers such as health maintenance organizations, pharmacy benefit managers and other institutions. The Company operates six manufacturing facilities, which are located in Belgium, Brazil, Indonesia, Mexico, the Netherlands and the United Kingdom (“UK”). Unless otherwise indicated, trademarks appearing in italics throughout this document are trademarks of, or are used under license by, the Organon group of companies.

Organon’s operations include the following product portfolios:

•Women’s Health: Organon’s health portfolio of products is sold by prescription primarily in two therapeutic areas: contraception, with key brands such as Nexplanon® (etonogestrel implant) (sold as Implanon NXT™ in some countries outside the United States) and NuvaRing® (etonogestrel / ethinyl estradiol vaginal ring); and fertility, with key brands such as Follistim AQ® (follitropin beta injection) (marketed in most countries outside the United States as Puregon™). Nexplanon is a long-acting reversible contraceptive in a class recognized as one of the most effective types of hormonal contraception available to patients with a low long-term average cost. The Jada®2 device is intended to provide control and treatment of abnormal postpartum uterine bleeding or hemorrhage when conservative management is warranted. In January 2026, the Company divested the Jada® System to Laborie Medical Technologies Corporation (“Laborie”).

•General Medicines: Organon’s general medicines portfolio includes biosimilars and established brands.
•Biosimilars: Organon’s current biosimilars portfolio spans across immunology and oncology related treatments. Organon’s oncology biosimilars: Ontruzant® (trastuzumab-dttb), AybintioTM1 (bevacizumab), Bildyos® (denosumab-nxxp) and Bilprevda® (denosumab-nxxp) have been launched in more than 20 countries. Organon’s immunology biosimilars consist of: BrenzysTM1 (etanercept), Renflexis® (infliximab-abda), Hadlima® (adalimumab-bwwd) and Tofidence® (tocilizumab-bavi). Brenzys, Renflexis, and Hadlima have been launched in five countries. In 2025, Organon launched Bildyos injection 60 mg/mL and Bilprevda injection 120 mg/1.7 mL, biosimilars to Prolia2 (denosumab) and Xgeva2 (denosumab), respectively, in the United States. In 2025, Poherdy® (pertuzumab-dpzb) was approved by the U.S. Food and Drug Administration (“FDA”), and the Company is assessing the future commercial launch of this product.
•Established Brands: Organon has a portfolio of established brands, which includes brands in cardiovascular, respiratory, dermatology and non-opioid pain management, including Emgality®2 (galcanezumab-gnlm) and Vtama® (tapinarof) cream 1%. Many brands in the established brands portfolio lost exclusivity years ago and have faced generic competition for some time.

On April 26, 2026, the Company entered into a definitive agreement with Sun Pharmaceutical Industries Limited (“Sun Pharma”) under which Sun Pharma will acquire all of the Company’s outstanding shares of common stock for $14.00 per share in cash. Completion of the transaction is subject to customary closing conditions, including receipt of required regulatory approvals and approval by the Company’s stockholders. On July 23, 2026, the Company received stockholder approval at its special meeting of stockholders. The transaction is expected to close in early 2027.
v3.26.1
Basis of Presentation
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Basis of Presentation
The accompanying unaudited financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures required by GAAP for complete consolidated financial statements are not included herein. The results of operations for any interim period are not necessarily indicative of the results of operations for the full year. In the Company’s opinion, all adjustments necessary for a fair statement of these interim statements have been included and are of a normal and recurring nature. All intercompany transactions and accounts within Organon have been eliminated. These interim statements should be read in conjunction with the audited financial statements and notes thereto included in Organon’s Annual Report on Form 10-K for the year ended December 31, 2025.
Use of Estimates

The presentation of these Condensed Consolidated Financial Statements and accompanying notes in conformity with GAAP require management to make estimates and assumptions that affect the amounts reported, as further described in the Annual Report on Form 10-K for the year ended December 31, 2025. Accordingly, actual results could differ materially from management’s estimates and assumptions.

Recently Issued Accounting Standards Not Yet Adopted

In October 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606): Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract. Among other things, the ASU adds the scope exception from derivative accounting for contracts that are not exchange-traded and have features based on operations or activities specific to one of the parties involved, reducing complexity and diversity in practice. The amendments in this ASU are effective for annual periods beginning on January 1, 2027, and should be applied on a prospective basis, with the option to apply the amendments on a modified retrospective basis; early adoption is permitted. The Company is currently assessing the impact of this ASU on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The amendments modernize the accounting for internal-use software to better reflect contemporary development practices, such as agile and iterative methodologies. Key changes include revised cost capitalization thresholds, enhanced guidance for assessing development uncertainty, and new disclosure requirements intended to improve transparency and consistency across entities. The amendments in this ASU are effective for annual periods beginning on January 1, 2028 and interim reporting periods within those periods, and may be applied either prospectively, retrospectively or on a modified retrospective basis; early adoption is permitted. The Company is currently assessing the impact of this ASU on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures, Additionally, in January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. The standard requires entities to disaggregate operating expenses into specific categories to provide enhanced transparency into the nature and function of expenses. This guidance is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. This guidance should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the consolidated financial statements. This ASU will have no impact on the Company’s consolidated financial condition or results of operations. The Company is currently evaluating the effects of this guidance on its related disclosures.
v3.26.1
Acquisitions and Licensing Arrangements
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions and Licensing Arrangements Acquisitions and Licensing Arrangements
Shanghai Henlius Biotech, Inc. (“Henlius”)

In the first quarter of 2026, in anticipation of the expected launch of HLX-11 in the United States, the Company entered into an agreement with Henlius that amended the terms of the existing license agreement to modify the previous commercial milestone payments. Under the amended agreement, the Company will make payments of $17 million total, with $10 million payable in December 2026, and $7 million, payable in February 2028. The Company capitalized the $17 million as an intangible asset.

In April 2026, the European Commission granted marketing authorization for Poherdy® (pertuzumab) 420 mg/14 mL injection for intravenous use, the first and only approved biosimilar to Perjeta2 (pertuzumab) in Europe, for all indications of the product. As a result, sales-based milestones related to the Henlius agreement were determined to be probable of being achieved and the Company recognized intangible assets of $10 million related to these milestones.

Sebela Pharmaceuticals (“Sebela”)

On February 19, 2026, Organon entered into an exclusive license agreement with Sebela for the global rights to Miudella®, a hormone-free copper intrauterine device (“IUD”) that was approved by the FDA on February 24, 2025. Under the terms of the agreement, Organon paid $27.5 million in June 2026, with potential sales-based milestone payments of up to $505 million, and tiered double-digit royalties based on net sales. In the second quarter of 2026, the Company recognized an intangible asset of $27.5 million. The intangible assets will be amortized over 8 years.
Laborie Medical Technologies Corporation (“Laborie”)

In January 2026, the Company divested the Jada System to Laborie for an aggregate payment of up to $465 million, comprised of consideration of $440 million, subject to certain customary closing adjustments, including inventory value, plus potential contingent consideration payments of up to $25 million based on the achievement of certain 2026 net sales targets. Approximately 100 Company employees transferred to Laborie as part of this transaction.

Upon the closing of the divestiture, the Company recognized a net gain on the sale of the Jada System of $81 million recognized in Other expense (income), net in the Condensed Consolidated Statement of Income for the six months ended June 30, 2026.

As part of the divestiture of the Jada System in January 2026, the Company is eligible to receive potential contingent consideration of up to $25 million based on the achievement of certain net sales targets for the Jada System during 2026. This contingent consideration is recorded as a financial asset at fair value. The fair value of the contingent consideration was estimated using the projected future net sales of the Jada System and the probability of various achievement scenarios for the sales targets. See Note 11. “Financial Instruments” for further information.

In connection with the Jada divestiture, certain related assets and liabilities met the criteria for held for sale classification as of December 31, 2025. The disposal group is measured at the lower of carrying amount or fair value less cost to sell. No impairment was recognized.

Details of assets and liabilities held for sale as of December 31, 2025 are as follows:

Inventory$8 
Assets held for sale$8 
Goodwill$226 
Intangible assets, net164
Noncurrent assets held for sale$390 
Accrued and other current liabilities$2 
Liabilities held for sale$2 
Deferred taxes$32 
Noncurrent liabilities held for sale$32 

Oss Biotech Site
In July 2025, Organon acquired the Oss Biotech manufacturing facility in the Netherlands from Merck & Co., Inc., Rahway, NJ, U.S. (“Merck”). This agreement covers Organon’s fertility drug substance production and associated support functions. Organon paid aggregate consideration of $25 million for the facility, of which $15 million was paid in July 2025, with the remainder paid during the second quarter of 2026. In addition to the purchase of the facility, the Company also paid $71 million for the purchase of the remaining inventory at the site.
v3.26.1
Earnings per Share (“EPS”)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings per Share (“EPS”) Earnings per Share (“EPS”)
The calculations of basic and diluted EPS are as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions and shares in thousands, except per share amounts)2026202520262025
Net income$108 $145 $254 $232 
Basic weighted average number of shares outstanding262,611259,939261,497258,906
Stock awards and equity units (share equivalent)7,838 217 5,1821,678
Diluted weighted average common shares outstanding270,449260,156266,679260,584
EPS:
Basic$0.41 $0.56 $0.97 $0.90 
Diluted$0.40 $0.56 $0.95 $0.89 
Anti-dilutive shares excluded from the calculation of EPS9,337 18,568 9,029 17,761 
Diluted EPS was computed using the treasury stock method for stock option awards, performance share units, and restricted share units. The computation of diluted EPS excludes the effect of the potential exercise of stock-based awards when the effect of the potential exercise would be anti-dilutive.
v3.26.1
Product and Geographic Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Product and Geographic Information Product and Geographic Information
Revenues of the Company’s products were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
($ in millions)U.S.Int’lTotalU.S.Int’lTotalU.S.Int’lTotalU.S.Int’lTotal
Women’s Health
Nexplanon/Implanon NXT$129 $101 $230 $163 $77 $240 $256 $175 $431 $339 $148 $488 
Follistim AQ17 43 59 30 43 74 38 82 120 65 77 142 
NuvaRing
9 18 27 7 21 28 14 37 51 13 37 50 
Ganirelix Acetate Injection
2 24 26 3 25 27 4 48 52 7 47 54 
Marvelon/Mercilon
— 32 32 — 33 33 — 58 58 — 72 72 
Jada (3)
— — — 18 — 18 5 — 5 33 — 33 
Other Women’s Health (1)
15 29 45 14 27 42 33 58 90 30 57 86 
General Medicines
Biosimilars
Renflexis44 21 65 46 17 63 87 36 122 90 30 120 
Hadlima55 24 79 36 14 50 106 40 146 69 27 96 
Ontruzant5 1 6 5 26 31 9 2 11 8 41 49 
Brenzys— 14 14 — 22 22 — 34 34 — 36 36 
Bildyos/Bilprevda14 5 19 — — — 20 15 35 — — — 
Other Biosimilars (1)
10 2 12 3 4 7 15 5 20 3 10 13 
Established Brands
Cardiovascular
Atozet— 80 80 — 86 86 — 165 165 — 162 162 
Zetia2 95 96 1 72 74 3 181 183 3 156 159 
Cozaar/Hyzaar2 48 50 2 54 56 5 103 107 4 107 111 
Vytorin1 20 21 1 26 27 2 40 42 2 48 50 
Rosuzet— 5 5 — 6 6 — 11 11 — 10 10 
Other Cardiovascular (1)
1 23 25 1 33 34 1 50 53 1 64 65 
Respiratory
Singulair2 46 48 2 64 66 4 84 88 4 136 140 
Nasonex— 58 58 — 66 66 — 123 123 — 137 137 
Dulera30 11 41 32 9 41 53 23 76 66 19 84 
Clarinex1 30 30 1 33 34 2 60 61 1 67 68 
Other Respiratory (1)
16 1 18 11 3 14 27 3 30 21 6 27 
Non-Opioid Pain, Bone and Dermatology
Arcoxia— 69 69 — 63 63 — 128 128 — 124 124 
Fosamax1 24 25 — 34 34 1 53 54 2 65 67 
Diprospan— 44 44 — 41 41 — 79 79 — 71 71 
Vtama
34 1 35 29 2 31 57 3 60 49 6 54 
Other Non-Opioid Pain, Bone and Dermatology (1)
4 75 79 4 76 80 7 140 147 7 143 151 
Other
Propecia2 34 36 1 30 32 3 62 65 3 55 58 
Emgality— 54 54 — 42 42 — 108 108 — 74 74 
Proscar— 20 20 — 22 22 — 46 46 — 46 46 
Other (1)
2 94 96 3 85 87 4 178 184 5 159 164 
Other (2)
— 14 14 1 24 23 — 32 33 1 44 46 
Revenues$398 $1,160 $1,558 $414 $1,180 $1,594 $756 $2,262 $3,018 $826 $2,281 $3,107 
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 unless otherwise indicated.

(1) Includes sales of products not listed separately.
(2) Includes manufacturing sales to third parties.
(3) Jada is a trademark registered in the US in the name of Alydia Health, Inc.
Revenues by geographic area where derived are as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Europe and Canada$432 $419 $845 $795 
United States398 414 756 826 
Asia Pacific and Japan232 250 457 502 
China208 204 402 409 
Latin America, Middle East, Russia, and Africa
269 285 516 524 
Other (1)
19 22 42 51 
Revenues$1,558 $1,594 $3,018 $3,107 
(1) Includes manufacturing sales to third parties.
v3.26.1
Stock-Based Compensation Plans
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans Stock-Based Compensation Plans
The Company grants stock option awards, restricted share units (“RSUs”), performance share units (“PSUs”), and cash awards pursuant to the 2021 Incentive Stock Plan.

Stock-based compensation expenses incurred by the Company were as follows:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Stock-based compensation expense recognized in:
Cost of sales$4 $4 $7 $8 
Selling, general and administrative 16 14 29 30 
Research and development5 4 8 8 
Total$25 $22 $44 $46 
Income tax benefits$5 $5 $9 $10 

The fair value of options granted was determined using the following assumptions:

Six Months Ended June 30,
2025
Expected dividend yield7.41 %
Risk-free interest rate4.08 
Expected volatility40.25 
Expected life (years)(1)
5.89
(1)The expected term was estimated using the historical option‑exercise and settlement patterns, supplemented by a midpoint‑based assumption applied to awards meeting a one‑year post‑grant eligibility filter.
A summary of the equity award transactions for the six months ended June 30, 2026 is as follows:
Stock Options
RSUs
PSUs
(shares in thousands)SharesWeighted average
exercise price		Weighted average
grant date
fair value		SharesWeighted average
grant date
fair value		SharesWeighted average
grant date
fair value
Outstanding as of January 1, 20267,519 $27.30 $6.99 9,716 $15.35 589 $23.61 
Granted/Issued
— — — 13,585 6.02 2,128 8.27 
Vested/Exercised— — — (3,497)17.81 (193)23.20 
Forfeited/Cancelled(2,299)30.78 8.11 (1,053)9.68 (140)23.20 
Outstanding as of June 30, 2026
5,220 $25.76 $6.50 18,751 $8.45 2,384 $9.98 

The following table summarizes information about equity awards outstanding that are vested and expected to vest and equity awards outstanding that are exercisable as of June 30, 2026:

Equity Awards Vested and Expected to VestEquity Awards That are Exercisable
(awards in thousands; aggregate intrinsic value in millions)
AwardsWeighted Average
Exercise Price		Aggregate
Intrinsic Value
Remaining
Term
(in years)
AwardsWeighted Average
Exercise Price		Aggregate
Intrinsic Value
Remaining
Term
(in years)
Stock Options5,126 $25.76 $— 6.233,949 $29.00 $— 5.49
RSUs
17,065 254 2.19
PSUs
2,328 36 2.22

The amount of unrecognized compensation costs as of June 30, 2026 was $162 million, which will be recognized in operating expense ratably over the weighted average vesting period of 2.16 years.
v3.26.1
Restructuring
 6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
During the first quarter of 2026, the Company implemented restructuring initiatives that will result in an approximate 3% headcount reduction, to streamline and optimize the Company's research and development and manufacturing operations, focusing on enhancing efficiency and aligning resources with strategic priorities. The Restructuring costs primarily consist of employee termination benefits and other associated expenses.

During the first quarter of 2025, the Company implemented restructuring initiatives to drive an enterprise-wide operating model optimization that resulted in an approximate 6% headcount reduction. The restructuring activities were initiated to streamline and simplify the Company’s operating model to create more efficient processes and a simplified structure. Restructuring costs include separation costs associated with manufacturing-related headcount reductions.

The following is a summary of changes in severance liabilities related to the restructuring activities included within Accrued and other current liabilities:
June 30, 2026December 31, 2025
Beginning balance $8 $14 
Severance & severance related costs 31 95 
Cash payments and other(23)(101)
Ending balance$16 $8 

Organon expects the remaining severance payments associated with the restructuring activities to be paid within the next twelve months.
v3.26.1
Taxes on Income
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Taxes on Income Taxes on Income
The effective income tax rates were 41.3% and 37.0% for the three months ended June 30, 2026 and 2025, respectively, and 36.0% and 29.8% for the six months ended June 30, 2026 and 2025, respectively. These effective income tax rates reflect the beneficial impact of foreign earnings, offset by the impact of U.S. inclusions under the Global Intangible Low-Taxed Income regime and a valuation allowance recorded against non-deductible U.S. interest expense. Also included in the six month tax rate is the beneficial impact of the sale of the Jada System. There was a favorable impact to the 2025 year-to-date effective tax rate driven by a tax amortization benefit.

On July 4, 2025, U.S. House Resolution 1, referred to as the One Big Beautiful Bill Act (“OBBBA”), was signed into law. The OBBBA includes significant corporate tax provisions such as modifications to interest deductibility, the option to fully expense U.S.-based R&D costs, and changes to the taxation of foreign earnings. For 2026 and beyond, the impacts of the OBBBA are reflected in the Company’s U.S. cash tax liability and income tax provision primarily reflected as an increase in the Company’s interest expense limitation offset by a decrease in the Company’s foreign income inclusions.
v3.26.1
Inventories
 6 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consisted of:
($ in millions)June 30, 2026December 31, 2025
Finished goods$686 $751 
Raw materials
12 14 
Work in process845 791 
Supplies78 81 
Total (approximates current cost)$1,621 $1,637 
Increase (Decrease) to last in, first out (“LIFO”) costs
3 5 
$1,624 $1,642 
Recognized as:
Inventories$1,351 $1,406 
Other assets273 236 
Inventories valued under the LIFO method
155 114 

In connection with the Jada divestiture in January 2026, $8 million of inventory was reclassified to Assets held for sale on the Consolidated Balance Sheet as of December 31, 2025.

As part of the Dermavant acquisition in 2024, the Company acquired $97 million of inventory, which included a $63 million purchase accounting inventory fair value adjustment. As of June 30, 2026, the amount has been fully expensed. As of December 31, 2025, there was $7 million remaining in inventory related to the fair value adjustment.
Amounts recognized as Other assets are comprised primarily of raw materials and work in process inventories and are not expected to be converted to finished goods that will be sold within one year. The Company has long-term vendor supply contracts that include certain annual minimum purchase commitments.
v3.26.1
Long-Term Debt and Short-Term Borrowings
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long-Term Debt and Short-Term Borrowings Long-Term Debt and Short-Term Borrowings
Long-term debt and short-term borrowings consist of the following:

($ in millions)June 30, 2026December 31, 2025
Senior Credit Agreement
Term Loan B Facility:
SOFR plus 225 bps term loan due 2031
$1,522 $1,543 
EURIBOR plus 275 bps euro-denominated term loan due 2031 (€707 million in 2026 and €717 million in 2025)
806 843 
4.125% secured notes due 2028
2,100 2,100 
2.875% euro-denominated secured notes due 2028 (€1.25 billion)
1,425 1,470 
5.125% notes due 2031
1,582 1,582 
6.750% secured notes due 2034
500 500 
7.875% notes due 2034
500 500 
Revenue Interest Purchase and Sale Agreement (1)
182 179 
Other borrowings8 8 
Other (discounts and debt issuance costs)(72)(81)
Total principal long-term debt and short-term borrowings$8,553 $8,644 
Less: Current portion of long-term debt and short-term borrowings74 16 
Total Long-term debt, net of current portion$8,479 $8,628 
(1) Recognized at the amortized cost basis. The remaining principal is determined as the initial fair value less principal payments. As of June 30, 2026, the remaining principal of the revenue interest purchase and sale agreement (the “RIPSA”) that the Company assumed in connection with its 2024 acquisition of Dermavant is $156 million.

The nature and terms of Organon’s long-term debt are described in detail in Note 12. “Long-Term Debt and Leases” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

On February 6, 2026, the Company made mandatory prepayments from the proceeds of the Jada System divestiture of $20.4 million on the U.S. Dollar Term Loans and €9.6 million on the Euro Term Loan Facility. Additional mandatory prepayments totaling $55 million are required across the Company’s senior secured notes within 450 days of the January 2026 closing of the Jada System divestiture.

For the six months ended June 30, 2026, the Company had no borrowings or repayments on the Company’s Revolving Credit Facility (the “Revolving Credit Facility”). There were no outstanding balances under the Revolving Credit Facility as of June 30, 2026 or December 31, 2025.

Long-term debt was recorded at the carrying amount. The estimated fair value of long-term debt (including current portion) is as follows:
($ in millions)Fair Value Measurement LevelJune 30, 2026December 31, 2025
Long-term debt
2$8,438 $7,922 
Long-term debt - RIPSA3134 136 

Level 2 was estimated using inputs other than quoted prices in active markets for identical assets and liabilities that are observable either directly or indirectly for substantially the full term of the liability. Level 3 was estimated using unobservable inputs.

The Company made interest payments related to its debt instruments of $209 million for the six months ended June 30, 2026. The average maturity of the Company’s long-term debt as of June 30, 2026 is approximately 4.1 years and the weighted-average interest rate on total borrowings as of June 30, 2026 is 4.9%.
The schedule of principal payments required on long-term debt and short-term borrowings for the next five years, exclusive of $26 million of accrued interest related to the RIPSA, and thereafter are as follows:
($ in millions)
2026$1 
202761 
20283,486 
20299 
203021 
Thereafter5,021 

The Senior Credit Agreement contains customary financial covenants, including a total leverage ratio covenant, which measures the ratio of (i) consolidated total debt to (ii) consolidated earnings before interest, taxes, depreciation and amortization, and subject to other adjustments, that must meet certain defined limits which are tested on a quarterly basis. In addition, the Senior Credit Agreement contains covenants that limit, among other things, Organon’s ability to prepay, redeem or repurchase its subordinated and junior lien debt, incur additional debt, make acquisitions, merge with other entities, pay dividends or distributions, redeem, or repurchase equity interests, and create or become subject to liens. As of June 30, 2026, the Company is in compliance with all financial covenants, and no default or event of default has occurred.
v3.26.1
Financial Instruments
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial Instruments Financial Instruments
The Company measures fair value based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based on a three-tier hierarchy that prioritizes the inputs used to measure fair value. These tiers include Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The following financial instruments were recorded at their estimated fair value. The recurring fair value measurement of the assets and liabilities was as follows:

($ in millions)Fair Value Measurement Level June 30, 2026December 31, 2025
Other current assets:
Forward contracts2$16 $12 
Contingent consideration(a)
39 — 
Accrued and other current liabilities:
Forward contracts218 11 
Other noncurrent liabilities:
Contingent consideration3273 269 
Cross-currency swap258 82 
(a) As part of the divestiture of the Jada System in January 2026, the Company is eligible to receive potential contingent consideration based on the achievement of certain net sales targets for the Jada System during 2026. See Note 3. “Acquisitions and Licensing Arrangements” for further information.

Foreign Currency Risk Management

The Company uses a balance sheet risk management program to partially mitigate the exposure of net monetary assets of its subsidiaries that are denominated in a currency other than a subsidiary’s functional currency from the effects of volatility in foreign exchange. In these instances, Organon principally utilizes forward exchange contracts to partially offset the effects of exchange on exposures denominated in developed country currencies, primarily the euro, Swiss franc, and Canadian dollar. For exposures in developing country currencies, the Company enters into forward contracts to partially offset the effects of exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the exchange rate and the cost of the hedging instrument.
Forward Contracts

Monetary assets and liabilities denominated in a currency other than the functional currency of a given subsidiary are remeasured at spot rates in effect on the balance sheet date with the effects of changes in spot rates reported in Exchange losses (gains) in the Condensed Consolidated Statements of Income. The forward contracts are not designated as hedges and are marked to market through Exchange losses (gains) in the Condensed Consolidated Statements of Income. Accordingly, fair value changes in the forward contracts help mitigate the changes in the value of the remeasured assets and liabilities attributable to changes in foreign currency exchange rates, except to the extent of the spot-forward differences. These differences are not significant due to the short-term nature of the contracts, which typically have average maturities at inception of less than one year. The notional amount of forward contracts was $1.6 billion and $1.7 billion as of June 30, 2026 and December 31, 2025, respectively. The cash flows and the related gains and losses from these contracts are reported as Operating activities in the Condensed Consolidated Statements of Cash Flows.

Net Investment Hedge

Euro-denominated debt instruments

Foreign exchange risk is also managed through the use of economic hedges on foreign currency balances. €707 million of the euro-denominated term loan and €1.25 billion of the 2.875% euro-denominated secured notes have been designated and are effective as a hedge of the net investment in euro-denominated subsidiaries. See Note 10 “Long-Term Debt and Short-Term Borrowings” for additional details.

Cross-currency swaps

The Company entered into cross-currency swaps that mature in 2029. The Company elected to designate the fixed-for-fixed swaps as a hedge of the net investment in euro-denominated subsidiaries balance and the change in the fair value attributable to the changes in the spot rate is recorded in Other Comprehensive Income (Loss), Net of Taxes. Throughout the term of the swaps, the Company will pay a fixed interest rate of 5.8330% based on the Euro notional amount of €922 million and receive a fixed interest rate of 7.3125% based on the U.S. dollar notional amount of $1 billion. The notional amount based on the Euro leg of the cross-currency swaps has been designated and is effective as a hedge of the net investment in euro-denominated subsidiaries. The difference between the interest rate received and paid under the cross-currency swap agreements is recorded in Interest expense in the Condensed Consolidated Statements of Income. The cash flows and the related gains and losses from the periodic settlements of the cross-currency swaps are reported as Operating Activities in the Condensed Consolidated Statements of Cash Flows.

Foreign currency gain (loss) due to spot rate fluctuations on the euro-denominated debt instruments and the change in fair value of the cross-currency swaps resulting from hedge designation were included within Cumulative translation adjustment in Other comprehensive income (loss), net of taxes:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Euro-denominated debt instruments gain (loss)$22 $(179)$71 $(249)
Cross-currency swaps (loss) gain(3)(104)24 (129)

The Condensed Consolidated Statements of Income include the impact of net (gains) losses of Organon’s derivative financial instruments:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Derivative loss (gain) in Exchange losses (gains)
$13 $(17)$25 $(19)
Derivative gain in Interest expense
(3)(1)(5)(5)
Contingent Consideration

The fair value measurement of contingent consideration arising from business combinations is determined via probability-weighted cash flows using a Monte Carlo simulation model, which are then discounted to present value. These inputs may include: (i) the estimated amount and timing of projected cash flows, (ii) the probability of the achievement of the factor(s) on which the contingency is based and (iii) the risk-adjusted discount rate used to present value the probability-weighted cash flows. Significant increases or decreases in any of those inputs in isolation could result in a significantly higher or lower fair value measurement. At June 30, 2026, the fair value measurements of acquisition-related contingent consideration were determined using discount rates ranging from 5.91% to 7.15%.

The following table presents a reconciliation of contingent consideration measured on a recurring basis using significant unobservable inputs (Level 3):

($ in millions)June 30, 2026
Beginning balance $269 
Accretion and changes in fair value in Other expense (income), net
4 
Ending balance $273 

In the first quarter of 2026, the Company identified an approximate $12 million error related to the fair value remeasurement of tax‑related contingent consideration, including expected net operating loss utilization. An adjustment was recorded to increase Other (income) expense, net during the first quarter of 2026 and relates to amounts that should have been reflected in the fourth quarter of 2025. The contingent consideration liability is appropriately stated as of June 30, 2026. The error was determined not to be material to the current or previously issued financial statements.

Concentrations of Credit Risk

Organon has established accounts receivable factoring agreements with financial institutions in certain countries to sell accounts receivable. Under these agreements, Organon factored $216 million and $217 million of accounts receivable as of June 30, 2026 and December 31, 2025, respectively, which reduced outstanding accounts receivable. The cash received from the financial institutions is reported within Operating Activities in the Condensed Consolidated Statements of Cash Flows. The cost of factoring such accounts receivable was not material for the six months ended June 30, 2026 and 2025.
v3.26.1
Accumulated Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated other comprehensive income (loss) by component are as follows:
($ in millions)Employee
Benefit
Plans		Cumulative
Translation
Adjustment		Accumulated Other
Comprehensive
Income (Loss)
Balance at April 1, 2025, net of taxes$(17)$(600)$(617)
Other comprehensive income, pretax— 45 45 
Tax— — — 
Other comprehensive income, net of taxes— 45 45 
Balance at June 30, 2025, net of taxes$(17)$(555)$(572)
Balance at April 1, 2026, net of taxes$5 $(544)$(539)
Other comprehensive loss, pretax— (9)(9)
Tax— — — 
Other comprehensive loss, net of taxes— (9)(9)
Balance at June 30, 2026, net of taxes$5 $(553)$(548)
Balance at January 1, 2025, net of taxes$(17)$(632)$(649)
Other comprehensive income, pretax— 77 77 
Tax— — — 
Other comprehensive income, net of taxes— 77 77 
Balance at June 30, 2025, net of taxes$(17)$(555)$(572)
Balance at January 1, 2026, net of taxes$4 $(531)$(527)
Other comprehensive income (loss), pretax1 (22)(21)
Tax— — — 
Other comprehensive income (loss), net of taxes1 (22)(21)
Balance at June 30, 2026, net of taxes$5 $(553)$(548)
v3.26.1
Samsung Collaboration
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Samsung Collaboration Samsung Collaboration
The Company is party to a Development and Commercialization Agreement (the “Samsung Agreement”) with Samsung Bioepis Co., Ltd. (“Samsung Bioepis”) to develop and commercialize multiple pre-specified biosimilar candidates, which have since launched and are part of the Company's product portfolio.

On May 22, 2026, the Samsung Agreement was amended to include commercialization rights for Pyzchiva®2 (ustekinumab biosimilar) in Canada. Samsung Bioepis retains full development, manufacturing, and regulatory responsibilities (“Amendment No. 8”).

On May 26, 2026, the Samsung Agreement was amended to extend commercialization rights for certain biosimilar products, including Renflexis and Brenzys, in specified markets for up to seven years beyond the original contract term (“Amendment No. 9”).

In connection with Amendment No. 9, the Company is required to make fixed payments totaling $30 million over a nine-year period from 2026 through 2034. The Company recorded an intangible asset and corresponding liability of $20.8 million, the present value of the future payments. The intangible asset will be amortized over nine years.

The liability is accreted to its contractual value over time using the effective interest method, with accretion recognized within Interest expense to reflect the nature of the underlying arrangement.
Amendment No. 9 also includes the return of commercialization rights to Samsung for certain oncology biosimilars, including Ontruzant and Aybintio, in specified ex‑U.S. markets such as Europe, Canada, and Brazil. These returns of rights are subject to defined, phased transition and cutover periods extending from 2026 through 2029, during which the Company may continue to commercialize products and fulfill contractual obligations.

On June 2, 2026, the Samsung Agreement was amended to include commercialization rights for Epyztek®2 in Australia. Samsung Bioepis retains full development, manufacturing, and regulatory responsibilities (“Amendment No. 10”).

Under the broader agreement, Samsung Bioepis is responsible for preclinical and clinical development, process development and manufacturing, clinical trials and registration of product candidates, and the Company has an exclusive license for worldwide commercialization with certain geographic exceptions specified on a product-by-product basis. The Company's access rights to each product under the agreement last for 10 years from each product's launch date on a market-by-market basis. Gross profits are shared equally in all markets with the exception of certain markets in Brazil where gross profits are shared 65% to Samsung Bioepis and 35% to the Company. Since the Company is the principal on sales transactions with third parties, the Company recognizes sales, cost of sales and selling, general and administrative expenses on a gross basis. Generally, profit sharing adjustments are recorded either to Cost of sales (after commercialization) or Selling, general and administrative expenses (prior to commercialization).

Summarized information related to this collaboration is as follows:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Sales$166 $170 $318 $311 
Cost of sales100 102 191 192 
Selling, general and administrative18 20 36 38 

($ in millions)June 30, 2026December 31, 2025
Payables to Samsung included in Trade accounts payable
161 94 
v3.26.1
Third-Party Arrangements
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
Third-Party Arrangements Third-Party Arrangements
On June 2, 2021, Organon and Merck entered into a Separation and Distribution Agreement (the “Separation and Distribution Agreement”). Pursuant to the Separation and Distribution Agreement, Merck agreed to spin off the Organon products into Organon, a new, publicly-traded company (the “Separation”).

The Separation was completed pursuant to the Separation and Distribution Agreement and other agreements with Merck related to the Separation. As of June 30, 2026, only one jurisdiction remains under an Interim Operating Model Agreement.

Under the manufacturing and supply agreements, the Company manufactures certain products for Merck, or its applicable affiliate, and Merck manufactures certain products for the Company, or its applicable affiliate. For details on the rights and responsibilities of the parties under the agreements, refer to Note 17 “Third-Party Arrangements” to the audited Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

The amounts due under such agreements were:
($ in millions)June 30, 2026December 31, 2025
Due from Merck in Accounts receivable
$143 $98 
Due to Merck in Accounts payable
374 337 
Sales and cost of sales resulting from the manufacturing and supply agreements with Merck were:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Sales $13 $19 $26 $37 
Cost of sales 10 16 21 32 
v3.26.1
Contingencies
 6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Contingencies Contingencies
Organon is involved in various claims and legal proceedings of a nature considered normal to its business, including product liability, intellectual property, and commercial litigation, as well as certain additional matters including governmental and environmental matters.

Organon records accruals for contingencies when it is probable that a liability has been incurred and the amount can be reasonably estimated. These accruals are adjusted periodically as assessments change or additional information becomes available. Individually significant contingent losses are accrued when probable and reasonably estimable. Legal defense costs expected to be incurred in connection with a loss contingency are accrued when probable and reasonably estimable.

Given the nature of the litigation discussed in this note and the complexities involved in these matters, Organon is unable to reasonably estimate a possible loss or range of possible loss for such matters until Organon knows, among other factors, (i) which claims, if any, will survive dispositive motion practice, (ii) the extent of the claims, including the size of any potential class, particularly when damages are not specified or are indeterminate, (iii) how the discovery process will affect the litigation, (iv) the settlement posture of the other parties to the litigation, and (v) any other factors that may have a material effect on the litigation.

Organon’s decision to obtain insurance coverage is dependent on market conditions, including cost and availability, existing at the time such decisions are made. Organon has evaluated its risks and has determined that the cost of obtaining product liability insurance outweighs the likely benefits of available coverage and, as such, has no insurance for most product liabilities.

Reference is made below to certain litigation in which Merck, but not Organon, is named as a defendant. Pursuant to the Separation and Distribution Agreement, Organon is required to indemnify Merck for liabilities relating to, arising from, or resulting from such litigation.

Product Liability Litigation

Fosamax

Merck is a defendant in product liability lawsuits in the United States involving Fosamax® (alendronate sodium) (the “Fosamax Litigation”). As of June 30, 2026, the Fosamax Litigation comprises approximately 498 cases in Federal court, approximately 1,478 cases in New Jersey state court, one case in Pennsylvania state court and approximately 149 cases in California state court. Plaintiffs in the vast majority of these cases generally allege that they sustained femur fractures and/or other bone injuries (“Femur Fractures”) associated with the use of Fosamax.

All federal cases alleging femur fractures have been transferred to a multidistrict litigation in the U.S. District Court for the District of New Jersey (the “Femur Fracture MDL”) where the only bellwether case tried to date, Glynn v. Merck, resulted in a verdict in Merck’s favor. Although many cases were previously dismissed on federal preemption grounds, subsequent appellate rulings — including a September 2024 Third Circuit decision and the U.S. Supreme Court’s June 2025 denial of certiorari — resulted in those cases being reinstated and proceeding before the court.

In New Jersey state court, the cases have been consolidated before a single judge in Middlesex County. On July 28, 2025, the Company entered into a Master Settlement Agreement with the New Jersey state and federal plaintiffs’ lawyers who represent eligible clients (“NJ MSA Attorneys”), pursuant to which, in exchange for a confidential, but non-material settlement payment, at least 95% of the NJ MSA Attorneys’ eligible clients will release the Company and Merck from any liability related to their filed claims.
In California state court, the cases have been consolidated before a single judge in Orange County, California. In the only bellwether case tried to date in California, Galper v. Merck, the jury returned a verdict in Merck’s favor. On February 18, 2026, the Company entered into a Master Settlement Agreement with the California plaintiffs’ lawyers and claimants pursuant to which, in exchange for a confidential, non-material settlement payment, at least 95% of the claimants will release the Company and Merck from any liability related to their claims.

Nexplanon/Implanon

Merck is a defendant in lawsuits brought by individuals relating to the use of Nexplanon and Implanon™ (etonogestrel implant). There are two filed product liability actions involving Implanon, both of which are pending in the Northern District of Ohio as well as 56 unfiled cases involving Implanon alleging similar injuries, all of which have been tolled under a written tolling agreement. There is one matter involving Nexplanon pending in California state court. On March 12, 2026, the Company signed a Master Settlement Agreement with the attorneys representing plaintiffs and all but two of the claimants with unfiled cases, pursuant to which, in exchange for a confidential, but non-material settlement payment, 56 plaintiffs and claimants will release the defendant parties from any liability for their filed and unfiled claims. As of June 30, 2026, Merck had 19 of such cases pending outside the United States, of which seven relate to Implanon and twelve relate to Nexplanon.

Securities and Stockholder Derivative Litigation

On May 27, 2025, a stockholder filed a lawsuit against the Company and certain of its officers on behalf of a putative class of stockholders who acquired Company shares between October 31, 2024 and April 30, 2025. A separate stockholder suit was filed on July 8, 2025 on behalf of a putative class of stockholders who acquired Company shares between November 3, 2022 and April 30, 2025. Both actions allege that the defendants made materially false and misleading statements regarding the Company’s capital allocation strategy, including through the use of quarterly dividends, and its debt reduction strategy.

The court consolidated the securities class actions on March 6, 2026 and appointed Teamsters Local 710 Pension Fund (the “Lead Plaintiff”) as the lead plaintiff. On May 8, 2026, the Lead Plaintiff filed an amended complaint that contained allegations similar to those raised in the complaints filed in the original, individual actions. The amended complaint also raised allegations relating to the Nexplanon matter (defined below). The amended complaint seeks unspecified monetary damages. On May 29, 2026, the Lead Plaintiff informed the defendants that it intended to file a second amended complaint and on June 17, 2026, the court entered an order setting the Company’s time to answer, move or otherwise respond as 60 days from the later of the date on which the court denies the Lead Plaintiff’s motion to file a second amended complaint or the date on which the Lead Plaintiff files a second amended complaint.

The same alleged misconduct also forms the basis of two stockholder derivative lawsuits filed against the Company, and certain of its officers and directors asserting breach of fiduciary duties arising from purportedly materially false and misleading statements. On July 7, 2025, the court consolidated each of the stockholder derivative lawsuits. Subsequently, on September 8, 2025, the court stayed the proceedings pending the final resolution of all motions to dismiss filed in the securities lawsuits.

All of the foregoing actions were filed in the U.S. District Court for the District of New Jersey and seek unspecified monetary damages and other relief.

Governmental Proceedings

From time to time, Organon and its subsidiaries receive inquiries and may be the subject of preliminary investigation activities from competitors and/or governmental authorities, including in markets outside the United States. These authorities may include regulators, administrative authorities, and law enforcement and other similar officials, and these preliminary investigation activities may include site visits, formal or informal requests or demands for documents or materials, inquiries or interviews and similar matters. Certain of these preliminary inquiries or activities may lead to the commencement of formal proceedings. Should those proceedings be determined adversely to Organon, monetary fines and/or remedial undertakings may be required. Subject to certain exceptions specified in the Separation and Distribution Agreement, Organon assumed liability for all pending and threatened legal matters related to products transferred from Merck to Organon in connection with the spinoff, including competition investigations resulting from enforcement activity concerning Merck’s conduct involving Organon’s products. Organon could be obligated to indemnify Merck for fines or penalties, or a portion thereof, resulting from such investigations.

On October 26, 2025, Organon made a voluntary self-disclosure to the U.S. Securities and Exchange Commission (the “SEC”) to advise it of an investigation conducted by the Audit Committee of the Company’s Board of Directors (the “Audit Committee”) regarding the Company’s Nexplanon sales to certain wholesalers in the United States (the “Nexplanon Matter”).
The SEC subsequently opened an investigation into the Nexplanon Matter, and the Company intends to cooperate with any inquiries from the SEC or any other regulatory authorities. The Company cannot guarantee that it (or its directors or officers) will not be subject to future inquiries, investigations, claims, actions, or proceedings relating to the Nexplanon Matter, nor can it predict the outcome of any of the foregoing; however, regardless of outcome, any inquiries, investigations, claims, actions, or proceedings relating to the Nexplanon Matter would likely consume a significant amount of Company resources and result in considerable legal and other costs.

Patent Litigation

From time to time, generic manufacturers of pharmaceutical products file Abbreviated New Drug Applications with the FDA seeking to market generic forms of Organon’s products prior to the expiration of relevant patents owned by Organon. To protect its patent rights, Organon may file patent infringement lawsuits against such generic companies. Similar lawsuits defending Organon’s patent rights may exist in other countries. Organon intends to vigorously defend its patents, which it believes are valid, against infringement by companies attempting to market products prior to the expiration of such patents. As with any litigation, there can be no assurance of the outcomes, which, if adverse, could result in significantly shortened periods of exclusivity for these products, potential payment of damages and legal fees, and, with respect to products acquired through acquisitions, potentially significant intangible asset impairment charges.

Nexplanon

On February 24, 2025, Organon received a Paragraph IV Certification Letter notifying the Company that Xiromed Pharma Espana, S.L. (“Xiromed”) filed an abbreviated new drug application (“ANDA”) to the FDA seeking approval to market a generic version of Nexplanon in the United States prior to the expiration of U.S. Patent Nos. 8,722,037 (the “‘037 patent”) and 9,757,552 (the “‘552 patent”), in 2027 and 2030, respectively. On April 2, 2025, the Company sued Xiromed in the U.S. District Court for the District of New Jersey asserting that the filing of the ANDA infringed the ‘037 patent and ‘552 patent and triggering a stay of regulatory approval of Xiromed’s ANDA for up to 30 months.

Vtama

On July 22, 2026, Organon received a Paragraph IV Certification Letter under the Hatch-Waxman Act notifying the Company that Encube Ethical Private Limited (Encube) has filed an abbreviated new drug application to the FDA seeking approval to market a generic version of Vtama. Encube’s notice letter included a Paragraph IV certification with respect to twelve patents listed in the Orange Book for Vtama, expiring between 2036 and 2039. On July 23, 2026, Organon received a Paragraph IV Certification Letter under the Hatch-Waxman Act notifying the Company that Mylan Pharmaceuticals, Inc. (Mylan) has filed an abbreviated new drug application to the FDA seeking approval to market a generic version of Vtama. Mylan’s notice letter included a Paragraph IV certification with respect to nine patents listed in the Orange Book for Vtama, expiring between 2036 and 2039. On July 27, 2026, Organon received a Paragraph IV Certification Letter under the Hatch-Waxman Act notifying the Company that Natco Pharma Limited (Natco) has filed an abbreviated new drug application to the FDA seeking approval to market a generic version of Vtama. Natco’s notice letter included a Paragraph IV certification with respect to nine patents listed in the Orange Book for Vtama, expiring between 2036 and 2039. Organon is reviewing the details of the Paragraph IV Certification Letters and intends to defend and enforce its intellectual property rights protecting Vtama.

Other Matters

In addition to the matters described above, there are various other pending legal proceedings involving Organon, principally product liability and intellectual property lawsuits. While it is not feasible to predict the outcome of such proceedings, in the opinion of Organon as of June 30, 2026, either the likelihood of loss is remote or any reasonably possible loss associated with the resolution of such proceedings is not expected to be material to Organon’s financial condition, results of operations or cash flows either individually or in the aggregate.
Legal Defense Reserves

Legal defense costs expected to be incurred in connection with a loss contingency are accrued when probable and reasonably estimable. Some of the significant factors considered in the review of these legal defense reserves are as follows: the actual costs incurred by Organon; the development of Organon’s legal defense strategy and structure in light of the scope of its litigation; the number of cases being brought against Organon; and the costs and outcomes of completed trials and the most current information regarding anticipated timing, progression, and related costs of pre-trial activities and trials in the associated litigation. The legal defense reserve as of June 30, 2026 and December 31, 2025 was $8 million and $10 million, respectively, and represented Organon’s best estimate of the minimum amount of defense costs to be incurred in connection with its outstanding litigation; however, events such as additional trials, other events that could arise in the course of pending litigation, or the filing of new matters, could affect the ultimate amount of legal defense costs to be incurred by Organon. Organon will continue to monitor its legal defense costs and review the adequacy of the associated reserves and may determine to increase the reserves at any time in the future if, based upon the factors set forth above, it believes it would be appropriate to do so.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Basis of Presentation (Policies)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Accounting
The accompanying unaudited financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures required by GAAP for complete consolidated financial statements are not included herein. The results of operations for any interim period are not necessarily indicative of the results of operations for the full year. In the Company’s opinion, all adjustments necessary for a fair statement of these interim statements have been included and are of a normal and recurring nature. All intercompany transactions and accounts within Organon have been eliminated. These interim statements should be read in conjunction with the audited financial statements and notes thereto included in Organon’s Annual Report on Form 10-K for the year ended December 31, 2025.
Use of Estimates
Use of Estimates

The presentation of these Condensed Consolidated Financial Statements and accompanying notes in conformity with GAAP require management to make estimates and assumptions that affect the amounts reported, as further described in the Annual Report on Form 10-K for the year ended December 31, 2025. Accordingly, actual results could differ materially from management’s estimates and assumptions.
Recently Issued Accounting Standards Not Yet Adopted
Recently Issued Accounting Standards Not Yet Adopted

In October 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606): Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract. Among other things, the ASU adds the scope exception from derivative accounting for contracts that are not exchange-traded and have features based on operations or activities specific to one of the parties involved, reducing complexity and diversity in practice. The amendments in this ASU are effective for annual periods beginning on January 1, 2027, and should be applied on a prospective basis, with the option to apply the amendments on a modified retrospective basis; early adoption is permitted. The Company is currently assessing the impact of this ASU on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The amendments modernize the accounting for internal-use software to better reflect contemporary development practices, such as agile and iterative methodologies. Key changes include revised cost capitalization thresholds, enhanced guidance for assessing development uncertainty, and new disclosure requirements intended to improve transparency and consistency across entities. The amendments in this ASU are effective for annual periods beginning on January 1, 2028 and interim reporting periods within those periods, and may be applied either prospectively, retrospectively or on a modified retrospective basis; early adoption is permitted. The Company is currently assessing the impact of this ASU on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures, Additionally, in January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. The standard requires entities to disaggregate operating expenses into specific categories to provide enhanced transparency into the nature and function of expenses. This guidance is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. This guidance should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the consolidated financial statements. This ASU will have no impact on the Company’s consolidated financial condition or results of operations. The Company is currently evaluating the effects of this guidance on its related disclosures.
v3.26.1
Acquisitions and Licensing Arrangements (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Details of Asset and Liabilities Held For Sale
Details of assets and liabilities held for sale as of December 31, 2025 are as follows:

Inventory$8 
Assets held for sale$8 
Goodwill$226 
Intangible assets, net164
Noncurrent assets held for sale$390 
Accrued and other current liabilities$2 
Liabilities held for sale$2 
Deferred taxes$32 
Noncurrent liabilities held for sale$32 
v3.26.1
Earnings per Share (“EPS”) (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Common Share
The calculations of basic and diluted EPS are as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions and shares in thousands, except per share amounts)2026202520262025
Net income$108 $145 $254 $232 
Basic weighted average number of shares outstanding262,611259,939261,497258,906
Stock awards and equity units (share equivalent)7,838 217 5,1821,678
Diluted weighted average common shares outstanding270,449260,156266,679260,584
EPS:
Basic$0.41 $0.56 $0.97 $0.90 
Diluted$0.40 $0.56 $0.95 $0.89 
Anti-dilutive shares excluded from the calculation of EPS9,337 18,568 9,029 17,761 
v3.26.1
Product and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Sales of Company's Products
Revenues of the Company’s products were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
($ in millions)U.S.Int’lTotalU.S.Int’lTotalU.S.Int’lTotalU.S.Int’lTotal
Women’s Health
Nexplanon/Implanon NXT$129 $101 $230 $163 $77 $240 $256 $175 $431 $339 $148 $488 
Follistim AQ17 43 59 30 43 74 38 82 120 65 77 142 
NuvaRing
9 18 27 7 21 28 14 37 51 13 37 50 
Ganirelix Acetate Injection
2 24 26 3 25 27 4 48 52 7 47 54 
Marvelon/Mercilon
— 32 32 — 33 33 — 58 58 — 72 72 
Jada (3)
— — — 18 — 18 5 — 5 33 — 33 
Other Women’s Health (1)
15 29 45 14 27 42 33 58 90 30 57 86 
General Medicines
Biosimilars
Renflexis44 21 65 46 17 63 87 36 122 90 30 120 
Hadlima55 24 79 36 14 50 106 40 146 69 27 96 
Ontruzant5 1 6 5 26 31 9 2 11 8 41 49 
Brenzys— 14 14 — 22 22 — 34 34 — 36 36 
Bildyos/Bilprevda14 5 19 — — — 20 15 35 — — — 
Other Biosimilars (1)
10 2 12 3 4 7 15 5 20 3 10 13 
Established Brands
Cardiovascular
Atozet— 80 80 — 86 86 — 165 165 — 162 162 
Zetia2 95 96 1 72 74 3 181 183 3 156 159 
Cozaar/Hyzaar2 48 50 2 54 56 5 103 107 4 107 111 
Vytorin1 20 21 1 26 27 2 40 42 2 48 50 
Rosuzet— 5 5 — 6 6 — 11 11 — 10 10 
Other Cardiovascular (1)
1 23 25 1 33 34 1 50 53 1 64 65 
Respiratory
Singulair2 46 48 2 64 66 4 84 88 4 136 140 
Nasonex— 58 58 — 66 66 — 123 123 — 137 137 
Dulera30 11 41 32 9 41 53 23 76 66 19 84 
Clarinex1 30 30 1 33 34 2 60 61 1 67 68 
Other Respiratory (1)
16 1 18 11 3 14 27 3 30 21 6 27 
Non-Opioid Pain, Bone and Dermatology
Arcoxia— 69 69 — 63 63 — 128 128 — 124 124 
Fosamax1 24 25 — 34 34 1 53 54 2 65 67 
Diprospan— 44 44 — 41 41 — 79 79 — 71 71 
Vtama
34 1 35 29 2 31 57 3 60 49 6 54 
Other Non-Opioid Pain, Bone and Dermatology (1)
4 75 79 4 76 80 7 140 147 7 143 151 
Other
Propecia2 34 36 1 30 32 3 62 65 3 55 58 
Emgality— 54 54 — 42 42 — 108 108 — 74 74 
Proscar— 20 20 — 22 22 — 46 46 — 46 46 
Other (1)
2 94 96 3 85 87 4 178 184 5 159 164 
Other (2)
— 14 14 1 24 23 — 32 33 1 44 46 
Revenues$398 $1,160 $1,558 $414 $1,180 $1,594 $756 $2,262 $3,018 $826 $2,281 $3,107 
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 unless otherwise indicated.

(1) Includes sales of products not listed separately.
(2) Includes manufacturing sales to third parties.
(3) Jada is a trademark registered in the US in the name of Alydia Health, Inc.
Schedule of Consolidated Revenues by Geographic Area
Revenues by geographic area where derived are as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Europe and Canada$432 $419 $845 $795 
United States398 414 756 826 
Asia Pacific and Japan232 250 457 502 
China208 204 402 409 
Latin America, Middle East, Russia, and Africa
269 285 516 524 
Other (1)
19 22 42 51 
Revenues$1,558 $1,594 $3,018 $3,107 
(1) Includes manufacturing sales to third parties.
v3.26.1
Stock-Based Compensation Plans (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expenses
Stock-based compensation expenses incurred by the Company were as follows:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Stock-based compensation expense recognized in:
Cost of sales$4 $4 $7 $8 
Selling, general and administrative 16 14 29 30 
Research and development5 4 8 8 
Total$25 $22 $44 $46 
Income tax benefits$5 $5 $9 $10 
Schedule of Stock Option Valuation Assumptions
The fair value of options granted was determined using the following assumptions:

Six Months Ended June 30,
2025
Expected dividend yield7.41 %
Risk-free interest rate4.08 
Expected volatility40.25 
Expected life (years)(1)
5.89
(1)The expected term was estimated using the historical option‑exercise and settlement patterns, supplemented by a midpoint‑based assumption applied to awards meeting a one‑year post‑grant eligibility filter.
Schedule of Equity Award Transactions
A summary of the equity award transactions for the six months ended June 30, 2026 is as follows:
Stock Options
RSUs
PSUs
(shares in thousands)SharesWeighted average
exercise price		Weighted average
grant date
fair value		SharesWeighted average
grant date
fair value		SharesWeighted average
grant date
fair value
Outstanding as of January 1, 20267,519 $27.30 $6.99 9,716 $15.35 589 $23.61 
Granted/Issued
— — — 13,585 6.02 2,128 8.27 
Vested/Exercised— — — (3,497)17.81 (193)23.20 
Forfeited/Cancelled(2,299)30.78 8.11 (1,053)9.68 (140)23.20 
Outstanding as of June 30, 2026
5,220 $25.76 $6.50 18,751 $8.45 2,384 $9.98 
Schedule of Equity Awards Outstanding
The following table summarizes information about equity awards outstanding that are vested and expected to vest and equity awards outstanding that are exercisable as of June 30, 2026:

Equity Awards Vested and Expected to VestEquity Awards That are Exercisable
(awards in thousands; aggregate intrinsic value in millions)
AwardsWeighted Average
Exercise Price		Aggregate
Intrinsic Value
Remaining
Term
(in years)
AwardsWeighted Average
Exercise Price		Aggregate
Intrinsic Value
Remaining
Term
(in years)
Stock Options5,126 $25.76 $— 6.233,949 $29.00 $— 5.49
RSUs
17,065 254 2.19
PSUs
2,328 36 2.22
v3.26.1
Restructuring (Tables)
 6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Schedule of Accrued and Other Current Liabilities
The following is a summary of changes in severance liabilities related to the restructuring activities included within Accrued and other current liabilities:
June 30, 2026December 31, 2025
Beginning balance $8 $14 
Severance & severance related costs 31 95 
Cash payments and other(23)(101)
Ending balance$16 $8 
v3.26.1
Inventories (Tables)
 6 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
Schedule of Inventory
Inventories consisted of:
($ in millions)June 30, 2026December 31, 2025
Finished goods$686 $751 
Raw materials
12 14 
Work in process845 791 
Supplies78 81 
Total (approximates current cost)$1,621 $1,637 
Increase (Decrease) to last in, first out (“LIFO”) costs
3 5 
$1,624 $1,642 
Recognized as:
Inventories$1,351 $1,406 
Other assets273 236 
Inventories valued under the LIFO method
155 114 
Schedule of Inventory, Noncurrent
Inventories consisted of:
($ in millions)June 30, 2026December 31, 2025
Finished goods$686 $751 
Raw materials
12 14 
Work in process845 791 
Supplies78 81 
Total (approximates current cost)$1,621 $1,637 
Increase (Decrease) to last in, first out (“LIFO”) costs
3 5 
$1,624 $1,642 
Recognized as:
Inventories$1,351 $1,406 
Other assets273 236 
Inventories valued under the LIFO method
155 114 
v3.26.1
Long-Term Debt and Short-Term Borrowings (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term debt and short-term borrowings consist of the following:

($ in millions)June 30, 2026December 31, 2025
Senior Credit Agreement
Term Loan B Facility:
SOFR plus 225 bps term loan due 2031
$1,522 $1,543 
EURIBOR plus 275 bps euro-denominated term loan due 2031 (€707 million in 2026 and €717 million in 2025)
806 843 
4.125% secured notes due 2028
2,100 2,100 
2.875% euro-denominated secured notes due 2028 (€1.25 billion)
1,425 1,470 
5.125% notes due 2031
1,582 1,582 
6.750% secured notes due 2034
500 500 
7.875% notes due 2034
500 500 
Revenue Interest Purchase and Sale Agreement (1)
182 179 
Other borrowings8 8 
Other (discounts and debt issuance costs)(72)(81)
Total principal long-term debt and short-term borrowings$8,553 $8,644 
Less: Current portion of long-term debt and short-term borrowings74 16 
Total Long-term debt, net of current portion$8,479 $8,628 
(1) Recognized at the amortized cost basis. The remaining principal is determined as the initial fair value less principal payments. As of June 30, 2026, the remaining principal of the revenue interest purchase and sale agreement (the “RIPSA”) that the Company assumed in connection with its 2024 acquisition of Dermavant is $156 million.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
Long-term debt was recorded at the carrying amount. The estimated fair value of long-term debt (including current portion) is as follows:
($ in millions)Fair Value Measurement LevelJune 30, 2026December 31, 2025
Long-term debt
2$8,438 $7,922 
Long-term debt - RIPSA3134 136 
Schedule of Maturities on Long-term Debt
The schedule of principal payments required on long-term debt and short-term borrowings for the next five years, exclusive of $26 million of accrued interest related to the RIPSA, and thereafter are as follows:
($ in millions)
2026$1 
202761 
20283,486 
20299 
203021 
Thereafter5,021 
v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Financial Instruments Recorded at Estimated Fair Value
The following financial instruments were recorded at their estimated fair value. The recurring fair value measurement of the assets and liabilities was as follows:

($ in millions)Fair Value Measurement Level June 30, 2026December 31, 2025
Other current assets:
Forward contracts2$16 $12 
Contingent consideration(a)
39 — 
Accrued and other current liabilities:
Forward contracts218 11 
Other noncurrent liabilities:
Contingent consideration3273 269 
Cross-currency swap258 82 
(a) As part of the divestiture of the Jada System in January 2026, the Company is eligible to receive potential contingent consideration based on the achievement of certain net sales targets for the Jada System during 2026. See Note 3. “Acquisitions and Licensing Arrangements” for further information.
Schedule of Long-term Debt Instruments
Foreign currency gain (loss) due to spot rate fluctuations on the euro-denominated debt instruments and the change in fair value of the cross-currency swaps resulting from hedge designation were included within Cumulative translation adjustment in Other comprehensive income (loss), net of taxes:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Euro-denominated debt instruments gain (loss)$22 $(179)$71 $(249)
Cross-currency swaps (loss) gain(3)(104)24 (129)
Schedule of (Gain) Loss on Derivative Instruments
The Condensed Consolidated Statements of Income include the impact of net (gains) losses of Organon’s derivative financial instruments:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Derivative loss (gain) in Exchange losses (gains)
$13 $(17)$25 $(19)
Derivative gain in Interest expense
(3)(1)(5)(5)
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents a reconciliation of contingent consideration measured on a recurring basis using significant unobservable inputs (Level 3):

($ in millions)June 30, 2026
Beginning balance $269 
Accretion and changes in fair value in Other expense (income), net
4 
Ending balance $273 
v3.26.1
Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component
Changes in Accumulated other comprehensive income (loss) by component are as follows:
($ in millions)Employee
Benefit
Plans		Cumulative
Translation
Adjustment		Accumulated Other
Comprehensive
Income (Loss)
Balance at April 1, 2025, net of taxes$(17)$(600)$(617)
Other comprehensive income, pretax— 45 45 
Tax— — — 
Other comprehensive income, net of taxes— 45 45 
Balance at June 30, 2025, net of taxes$(17)$(555)$(572)
Balance at April 1, 2026, net of taxes$5 $(544)$(539)
Other comprehensive loss, pretax— (9)(9)
Tax— — — 
Other comprehensive loss, net of taxes— (9)(9)
Balance at June 30, 2026, net of taxes$5 $(553)$(548)
Balance at January 1, 2025, net of taxes$(17)$(632)$(649)
Other comprehensive income, pretax— 77 77 
Tax— — — 
Other comprehensive income, net of taxes— 77 77 
Balance at June 30, 2025, net of taxes$(17)$(555)$(572)
Balance at January 1, 2026, net of taxes$4 $(531)$(527)
Other comprehensive income (loss), pretax1 (22)(21)
Tax— — — 
Other comprehensive income (loss), net of taxes1 (22)(21)
Balance at June 30, 2026, net of taxes$5 $(553)$(548)
v3.26.1
Samsung Collaboration (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Information Related to Collaboration
Summarized information related to this collaboration is as follows:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Sales$166 $170 $318 $311 
Cost of sales100 102 191 192 
Selling, general and administrative18 20 36 38 

($ in millions)June 30, 2026December 31, 2025
Payables to Samsung included in Trade accounts payable
161 94 
v3.26.1
Third-Party Arrangements (Tables)
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The amounts due under such agreements were:
($ in millions)June 30, 2026December 31, 2025
Due from Merck in Accounts receivable
$143 $98 
Due to Merck in Accounts payable
374 337 
Sales and cost of sales resulting from the manufacturing and supply agreements with Merck were:

Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Sales $13 $19 $26 $37 
Cost of sales 10 16 21 32 
v3.26.1
Background and Nature of Operations (Details)
Jun. 30, 2026
manufacturingFacility
medicineAndProduct
Apr. 26, 2026
$ / shares
Business Combination [Line Items]    
Number of medicines and products | medicineAndProduct 70  
Number of manufacturing facilities | manufacturingFacility 6  
Sun Pharma    
Business Combination [Line Items]    
Price in cash (in dollar per share) | $ / shares   $ 14.00
v3.26.1
Acquisitions and Licensing Arrangements - Narrative (Details)
$ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended
Feb. 24, 2026
USD ($)
Apr. 30, 2026
USD ($)
Jan. 31, 2026
USD ($)
employee
Jul. 31, 2025
USD ($)
Jun. 30, 2026
USD ($)
Mar. 31, 2026
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Asset Acquisition [Line Items]                
Proceeds from sale of Jada             $ 433.0 $ 0.0
Gain on disposition of business             81.0 $ 0.0
Remaining Inventory                
Asset Acquisition [Line Items]                
Payments to acquire productive assets       $ 71.0        
Oss Biotech Site                
Asset Acquisition [Line Items]                
Expected price of acquisition       25.0        
Consideration transferred       $ 15.0        
Disposal Group, Not Discontinued Operations | Jada                
Asset Acquisition [Line Items]                
Consideration     $ 465.0          
Proceeds from sale of Jada     440.0          
Potential earnout payments     $ 25.0          
Number of employees transferred | employee     100          
Gain on disposition of business             $ 81.0  
Collaborative Arrangement, Transaction with Party to Collaborative Arrangement | Shanghai Henlius Biotech, Inc.                
Asset Acquisition [Line Items]                
Payables in relation to license agreement           $ 17.0    
Payables in relation to license agreement, first installment           10.0    
Payables in relation to license agreement, second installment           7.0    
Currently marketed products - products and product right   $ 10.0       $ 17.0    
Collaborative Arrangement, Transaction with Party to Collaborative Arrangement | Sebela Pharmaceutical                
Asset Acquisition [Line Items]                
Currently marketed products - products and product right         $ 27.5      
Payment towards amount in connection with license agreement $ 27.5              
Potential milestone payments $ 505.0              
Amortize the asset useful life (in years)         8 years   8 years  
v3.26.1
Acquisitions and Licensing Arrangements - Schedule of Details of Asset and Liabilities Held For Sale (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Jan. 31, 2026
Dec. 31, 2025
Disposal Group, Including Discontinued Operations [Line Items]      
Assets held for sale $ 0   $ 8
Noncurrent assets held for sale 0   390
Liabilities held for sale 0   2
Noncurrent liabilities held for sale $ 0   32
Disposal Group, Not Discontinued Operations | Jada      
Disposal Group, Including Discontinued Operations [Line Items]      
Inventory   $ 8 8
Assets held for sale     8
Goodwill     226
Intangible assets, net     164
Noncurrent assets held for sale     390
Accrued and other current liabilities     2
Liabilities held for sale     2
Deferred taxes     32
Noncurrent liabilities held for sale     $ 32
v3.26.1
Earnings per Share (“EPS”) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Net income $ 108 $ 145 $ 254 $ 232
Basic weighted average number of shares outstanding (in shares) 262,611 259,939 261,497 258,906
Stock awards and equity units (share equivalent) (in shares) 7,838 217 5,182 1,678
Diluted weighted average common shares outstanding (in shares) 270,449 260,156 266,679 260,584
EPS:        
Basic (in dollars per share) $ 0.41 $ 0.56 $ 0.97 $ 0.90
Diluted (in dollars per share) $ 0.40 $ 0.56 $ 0.95 $ 0.89
Share-based Compensation Plans        
EPS:        
Anti-dilutive shares excluded from the calculation of EPS (in shares) 9,337 18,568 9,029 17,761
v3.26.1
Product and Geographic Information - Schedule of Sales of Company's Products (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues $ 1,558 $ 1,594 $ 3,018 $ 3,107
Nexplanon/Implanon NXT        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 230 240 431 488
Follistim AQ        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 59 74 120 142
NuvaRing        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 27 28 51 50
Ganirelix Acetate Injection        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 26 27 52 54
Marvelon/Mercilon        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 32 33 58 72
Jada        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 18 5 33
Other Women's Health        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 45 42 90 86
Renflexis        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 65 63 122 120
Hadlima        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 79 50 146 96
Ontruzant        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 6 31 11 49
Brenzys        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 14 22 34 36
Bildyos/Bilprevda        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 19 0 35 0
Other Biosimilars        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 12 7 20 13
Atozet        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 80 86 165 162
Zetia        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 96 74 183 159
Cozaar/Hyzaar        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 50 56 107 111
Vytorin        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 21 27 42 50
Rosuzet        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 5 6 11 10
Other Cardiovascular        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 25 34 53 65
Singulair        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 48 66 88 140
Nasonex        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 58 66 123 137
Dulera        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 41 41 76 84
Clarinex        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 30 34 61 68
Other Respiratory        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 18 14 30 27
Arcoxia        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 69 63 128 124
Fosamax        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 25 34 54 67
Diprospan        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 44 41 79 71
Vtama        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 35 31 60 54
Other Non-Opiod Pain, Bone and Dermatology        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 79 80 147 151
Propecia        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 36 32 65 58
Emgality        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 54 42 108 74
Proscar        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 20 22 46 46
Other        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 96 87 184 164
Other        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 14 23 33 46
U.S.        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 398 414 756 826
U.S. | Nexplanon/Implanon NXT        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 129 163 256 339
U.S. | Follistim AQ        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 17 30 38 65
U.S. | NuvaRing        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 9 7 14 13
U.S. | Ganirelix Acetate Injection        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 2 3 4 7
U.S. | Marvelon/Mercilon        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
U.S. | Jada        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 18 5 33
U.S. | Other Women's Health        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 15 14 33 30
U.S. | Renflexis        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 44 46 87 90
U.S. | Hadlima        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 55 36 106 69
U.S. | Ontruzant        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 5 5 9 8
U.S. | Brenzys        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
U.S. | Bildyos/Bilprevda        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 14 0 20 0
U.S. | Other Biosimilars        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 10 3 15 3
U.S. | Atozet        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
U.S. | Zetia        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 2 1 3 3
U.S. | Cozaar/Hyzaar        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 2 2 5 4
U.S. | Vytorin        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 1 1 2 2
U.S. | Rosuzet        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
U.S. | Other Cardiovascular        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 1 1 1 1
U.S. | Singulair        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 2 2 4 4
U.S. | Nasonex        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
U.S. | Dulera        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 30 32 53 66
U.S. | Clarinex        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 1 1 2 1
U.S. | Other Respiratory        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 16 11 27 21
U.S. | Arcoxia        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
U.S. | Fosamax        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 1 0 1 2
U.S. | Diprospan        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
U.S. | Vtama        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 34 29 57 49
U.S. | Other Non-Opiod Pain, Bone and Dermatology        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 4 4 7 7
U.S. | Propecia        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 2 1 3 3
U.S. | Emgality        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
U.S. | Proscar        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
U.S. | Other        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 2 3 4 5
U.S. | Other        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 1 0 1
Int’l        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 1,160 1,180 2,262 2,281
Int’l | Nexplanon/Implanon NXT        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 101 77 175 148
Int’l | Follistim AQ        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 43 43 82 77
Int’l | NuvaRing        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 18 21 37 37
Int’l | Ganirelix Acetate Injection        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 24 25 48 47
Int’l | Marvelon/Mercilon        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 32 33 58 72
Int’l | Jada        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 0 0 0 0
Int’l | Other Women's Health        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 29 27 58 57
Int’l | Renflexis        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 21 17 36 30
Int’l | Hadlima        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 24 14 40 27
Int’l | Ontruzant        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 1 26 2 41
Int’l | Brenzys        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 14 22 34 36
Int’l | Bildyos/Bilprevda        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 5 0 15 0
Int’l | Other Biosimilars        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 2 4 5 10
Int’l | Atozet        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 80 86 165 162
Int’l | Zetia        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 95 72 181 156
Int’l | Cozaar/Hyzaar        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 48 54 103 107
Int’l | Vytorin        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 20 26 40 48
Int’l | Rosuzet        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 5 6 11 10
Int’l | Other Cardiovascular        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 23 33 50 64
Int’l | Singulair        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 46 64 84 136
Int’l | Nasonex        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 58 66 123 137
Int’l | Dulera        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 11 9 23 19
Int’l | Clarinex        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 30 33 60 67
Int’l | Other Respiratory        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 1 3 3 6
Int’l | Arcoxia        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 69 63 128 124
Int’l | Fosamax        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 24 34 53 65
Int’l | Diprospan        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 44 41 79 71
Int’l | Vtama        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 1 2 3 6
Int’l | Other Non-Opiod Pain, Bone and Dermatology        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 75 76 140 143
Int’l | Propecia        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 34 30 62 55
Int’l | Emgality        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 54 42 108 74
Int’l | Proscar        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 20 22 46 46
Int’l | Other        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 94 85 178 159
Int’l | Other        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues $ 14 $ 24 $ 32 $ 44
v3.26.1
Product and Geographic Information - Schedule of Revenues by Geographic Area (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues $ 1,558 $ 1,594 $ 3,018 $ 3,107
United States        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 398 414 756 826
Int’l        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 1,160 1,180 2,262 2,281
Europe and Canada        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 432 419 845 795
Asia Pacific and Japan        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 232 250 457 502
China        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 208 204 402 409
Latin America, Middle East, Russia, and Africa        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues 269 285 516 524
Other        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]        
Revenues $ 19 $ 22 $ 42 $ 51
v3.26.1
Stock-Based Compensation Plans - Schedule of Stock-based Compensation Expenses (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation expense $ 25 $ 22 $ 44 $ 46
Income tax benefits 5 5 9 10
Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation expense 4 4 7 8
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation expense 5 4 8 8
Income Statement Location [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation expense $ 16 $ 14 $ 29 $ 30
v3.26.1
Stock-Based Compensation Plans - Schedule of Stock Option Valuation Assumptions (Details)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Expected dividend yield 7.41%
Risk-free interest rate 4.08%
Expected volatility 40.25%
Expected life (years) 5 years 10 months 20 days
v3.26.1
Stock-Based Compensation Plans - Schedule of Equity Award Transactions (Details)
shares in Thousands
 6 Months Ended
Jun. 30, 2026
$ / shares
shares
Stock Options  
Outstanding, beginning balance (in shares) | shares 7,519
Granted/Issued (in shares) | shares 0
Vested/Exercised (in shares) | shares 0
Forfeited/Cancelled (in shares) | shares (2,299)
Outstanding, ending balance (in shares) | shares 5,220
Weighted average exercise price  
Outstanding, beginning balance (in dollars per share) $ 27.30
Granted/Issued (in dollars per share) 0
Vested/Exercised (in dollars per share) 0
Forfeited/Cancelled (in dollars per share) 30.78
Outstanding, ending balance (in dollars per share) 25.76
Weighted average grant date fair value  
Outstanding, beginning balance (in dollars per share) 6.99
Granted/Issued (in dollars per share) 0
Vested/Exercised (in dollars per share) 0
Forfeited/Cancelled (in dollars per share) 8.11
Outstanding, ending balance (in dollars per share) $ 6.50
RSUs  
Shares  
Outstanding, beginning balance (in shares) | shares 9,716
Granted/Issued (in shares) | shares 13,585
Vested/Exercised (in shares) | shares (3,497)
Forfeited/Cancelled (in shares) | shares (1,053)
Outstanding, ending balance (in shares) | shares 18,751
Weighted average grant date fair value  
Outstanding, beginning balance (in dollars per share) $ 15.35
Granted/Issued (in dollars per share) 6.02
Vested/Exercised (in dollars per share) 17.81
Forfeited/Cancelled (in dollars per share) 9.68
Outstanding, ending balance (in dollars per share) $ 8.45
PSUs  
Shares  
Outstanding, beginning balance (in shares) | shares 589
Granted/Issued (in shares) | shares 2,128
Vested/Exercised (in shares) | shares (193)
Forfeited/Cancelled (in shares) | shares (140)
Outstanding, ending balance (in shares) | shares 2,384
Weighted average grant date fair value  
Outstanding, beginning balance (in dollars per share) $ 23.61
Granted/Issued (in dollars per share) 8.27
Vested/Exercised (in dollars per share) 23.20
Forfeited/Cancelled (in dollars per share) 23.20
Outstanding, ending balance (in dollars per share) $ 9.98
v3.26.1
Stock-Based Compensation Plans - Schedule of Equity Awards Outstanding (Details)
$ / shares in Units, shares in Thousands, $ in Millions
 6 Months Ended
Jun. 30, 2026
USD ($)
$ / shares
shares
Equity Awards Vested and Expected to Vest  
Stock Options, Awards (in shares) | shares 5,126
Stock Options, Weighted Average Exercise Price (in dollars per share) | $ / shares $ 25.76
Stock Options, Aggregate Intrinsic Value | $ $ 0
Stock Options, Remaining Term (in years) 6 years 2 months 23 days
Equity Awards That are Exercisable  
Stock Options, Awards (in shares) | shares 3,949
Stock Options, Weighted Average Exercise Price (in dollars per share) | $ / shares $ 29.00
Stock Options, Aggregate Intrinsic Value | $ $ 0
Stock Options, Remaining Term 5 years 5 months 26 days
RSUs  
Equity Awards Vested and Expected to Vest  
Restricted stock, Awards (in shares) | shares 17,065
Restricted Stock, Aggregate Intrinsic Value | $ $ 254
Restricted Stock, Remaining Term 2 years 2 months 8 days
PSUs  
Equity Awards Vested and Expected to Vest  
Restricted stock, Awards (in shares) | shares 2,328
Restricted Stock, Aggregate Intrinsic Value | $ $ 36
Restricted Stock, Remaining Term 2 years 2 months 19 days
v3.26.1
Stock-Based Compensation Plans - Narrative (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2026
USD ($)
Share-Based Payment Arrangement [Abstract]  
Amount of unrecognized compensation costs $ 162
Amount of unrecognized compensation costs period for recognition 2 years 1 month 28 days
v3.26.1
Restructuring - Narrative (Details) - Additional Restructuring Initaitives
Jun. 30, 2026
Jun. 30, 2025
Restructuring Cost and Reserve [Line Items]    
Estimated number of positions to be eliminated, percent 0.03  
Headcount reductions, percent   6.00%
v3.26.1
Restructuring - Schedule of Accrued and Other Current Liabilities (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Restructuring Reserve [Roll Forward]    
Beginning balance $ 8 $ 14
Severance & severance related costs 31 95
Cash payments and other (23) (101)
Ending balance $ 16 $ 8
v3.26.1
Taxes on Income - (Details)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Tax Disclosure [Abstract]        
Effective income tax rate 41.30% 37.00% 36.00% 29.80%
v3.26.1
Inventories - Schedule of Inventories (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Inventory Disclosure [Abstract]    
Finished goods $ 686 $ 751
Raw materials 12 14
Work in process 845 791
Supplies 78 81
Total (approximates current cost) 1,621 1,637
Increase (Decrease) to last in, first out (“LIFO”) costs 3 5
Inventory 1,624 1,642
Recognized as:    
Inventories 1,351 1,406
Other assets 273 236
Inventories valued under the LIFO method $ 155 $ 114
v3.26.1
Inventories - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Jan. 31, 2026
Disposal Group, Not Discontinued Operations | Jada      
Inventory [Line Items]      
Inventory $ 8   $ 8
Dermavant Sciences Ltd      
Inventory [Line Items]      
Inventories   $ 97  
Adjustment of fair value included in inventory $ 7 $ 63  
v3.26.1
Long-Term Debt and Short-Term Borrowings - Schedule of Long-term Debt Instruments (Details)
€ in Millions, $ in Millions
 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2026
EUR (€)
Dec. 31, 2025
USD ($)
Dec. 31, 2025
EUR (€)
Debt Instrument [Line Items]        
Other (discounts and debt issuance costs) $ (72)   $ (81)  
Total principal long-term debt and short-term borrowings 8,553   8,644  
Less: Current portion of long-term debt and short-term borrowings 74   16  
Total Long-term debt, net of current portion 8,479   8,628  
Revenue Interest Purchase and Sale Agreement        
Debt Instrument [Line Items]        
Long-term debt 182   179  
Remaining principal amount 156      
Notes Payable, Other Payables        
Debt Instrument [Line Items]        
Long-term debt 8   8  
Term Loan B Facility | Senior Notes        
Debt Instrument [Line Items]        
Long-term debt $ 1,522   1,543  
Spread on variable rate 2.25%      
Euro Denominated Term Loan B | Senior Notes        
Debt Instrument [Line Items]        
Long-term debt $ 806   843  
Spread on variable rate 2.75%      
Face amount of debt | €   € 707   € 717
4.125% secured notes due 2028 | Senior Notes        
Debt Instrument [Line Items]        
Long-term debt $ 2,100   2,100  
Stated interest rate 4.125% 4.125%    
2.875% Senior Secured Notes Due 2028 | Senior Notes        
Debt Instrument [Line Items]        
Long-term debt $ 1,425   1,470  
Face amount of debt | €   € 1,250    
Stated interest rate 2.875% 2.875%    
2.875% Senior Secured Notes Due 2028 | Senior Notes | Organon Finance 1 LLC        
Debt Instrument [Line Items]        
Face amount of debt | €   € 1,250    
5.125% notes due 2031 | Senior Notes        
Debt Instrument [Line Items]        
Long-term debt $ 1,582   1,582  
Stated interest rate 5.125% 5.125%    
6.750% secured notes due 2034 | Senior Notes        
Debt Instrument [Line Items]        
Long-term debt $ 500   500  
Stated interest rate 6.75% 6.75%    
7.875% notes due 2034 | Senior Notes        
Debt Instrument [Line Items]        
Long-term debt $ 500   $ 500  
7.875% notes due 2034 | Senior Notes | Organon Finance 1 LLC        
Debt Instrument [Line Items]        
Stated interest rate 7.875% 7.875%    
v3.26.1
Long-Term Debt and Short-Term Borrowings - Narrative (Details)
€ in Millions, $ in Millions
 6 Months Ended
Feb. 06, 2026
USD ($)
Feb. 06, 2026
EUR (€)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Debt Instrument [Line Items]        
Repayments of long-term debt     $ 32 $ 634
Debt instrument interest payments     $ 209  
Average maturity of long-term debt     4 years 1 month 6 days  
Weighted-average interest rate of debt     4.90%  
Senior Notes        
Debt Instrument [Line Items]        
Mandatory payments $ 55      
Debt prepayment period prior to closing 450 days 450 days    
Revenue Interest Purchase and Sale Agreement        
Debt Instrument [Line Items]        
Interest payable     $ 26  
Term Loan B Facility        
Debt Instrument [Line Items]        
Repayments of long-term debt | €   € 20.4    
Euro Denominated Term Loan B        
Debt Instrument [Line Items]        
Repayments of long-term debt | €   € 9.6    
v3.26.1
Long-Term Debt and Short-Term Borrowings - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Level 2    
Debt Instrument [Line Items]    
Long-term debt $ 8,438 $ 7,922
Level 3    
Debt Instrument [Line Items]    
Long-term debt $ 134 $ 136
v3.26.1
Long-Term Debt and Short-Term Borrowings - Schedule of Maturities on Long-term Debt (Details)
$ in Millions
Jun. 30, 2026
USD ($)
Debt Disclosure [Abstract]  
2026 $ 1
2027 61
2028 3,486
2029 9
2030 21
Thereafter $ 5,021
v3.26.1
Financial Instruments - Schedule of Financial Instruments Recorded at Estimated Fair Value (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Level 2 | Forward Contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Fair value hedge assets $ 16 $ 12
Fair value hedge liabilities 18 11
Level 2 | Cross-currency swap    
Derivative Instruments, Gain (Loss) [Line Items]    
Fair value hedge liabilities 58 82
Level 3    
Derivative Instruments, Gain (Loss) [Line Items]    
Contingent consideration 9 0
Level 3 | Contingent consideration    
Derivative Instruments, Gain (Loss) [Line Items]    
Fair value hedge liabilities $ 273 $ 269
v3.26.1
Financial Instruments - Narrative (Details)
€ in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
Jun. 30, 2026
EUR (€)
Jun. 30, 2026
USD ($)
Dec. 31, 2025
USD ($)
Derivative Instruments, Gain (Loss) [Line Items]        
Accounts receivables factored | $     $ 216 $ 217
Contingent Consideration Acquired        
Derivative Instruments, Gain (Loss) [Line Items]        
Fair value adjustment | $ $ 12      
Minimum | Measurement Input, Discount Rate        
Derivative Instruments, Gain (Loss) [Line Items]        
Contingent consideration discount rates   0.0591 0.0591  
Maximum | Measurement Input, Discount Rate        
Derivative Instruments, Gain (Loss) [Line Items]        
Contingent consideration discount rates   0.0715 0.0715  
Euro Denominated Term Loan B Facility | Senior Notes        
Derivative Instruments, Gain (Loss) [Line Items]        
Face amount of debt | €   € 707    
2.875% Senior Secured Notes Due 2028 | Senior Notes        
Derivative Instruments, Gain (Loss) [Line Items]        
Face amount of debt | €   € 1,250    
Stated interest rate   2.875% 2.875%  
2.875% Senior Secured Notes Due 2028 | Senior Notes | Organon Finance 1 LLC        
Derivative Instruments, Gain (Loss) [Line Items]        
Face amount of debt | €   € 1,250    
Foreign Exchange Forward        
Derivative Instruments, Gain (Loss) [Line Items]        
Notional amount | $     $ 1,600 $ 1,700
Cross Currency Interest Rate Contract, Euro-Denominated Debt Instruments | 2034 Notes        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivate fixed interest rate   5.833% 5.833%  
Cross Currency Interest Rate Contract, Euro-Denominated Debt Instruments | Euro-Denominated Subsidiaries        
Derivative Instruments, Gain (Loss) [Line Items]        
Notional amount | €   € 922    
Cross Currency Interest Rate Contract, U.S. Dollar-Denominated Debt Instruments | 2034 Notes        
Derivative Instruments, Gain (Loss) [Line Items]        
Notional amount | $     $ 1,000  
Derivate fixed interest rate   7.3125% 7.3125%  
v3.26.1
Financial Instruments - Schedule of Long-term Debt Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Euro-denominated debt instruments gain (loss)        
Derivative Instruments, Gain (Loss) [Line Items]        
Debt instruments gain (loss) $ 22 $ (179) $ 71 $ (249)
Cross-currency swaps (loss) gain        
Derivative Instruments, Gain (Loss) [Line Items]        
Debt instruments gain (loss) $ (3) $ (104) $ 24 $ (129)
v3.26.1
Financial Instruments - Schedule of (Gain) Loss on Derivative Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement Location [Axis]: us-gaap:ForeignCurrencyTransactionGainLossBeforeTax        
Derivative Instruments, Gain (Loss) [Line Items]        
Impact of net (gains) losses of derivative financial instruments $ 13 $ (17) $ 25 $ (19)
Income Statement Location [Axis]: us-gaap:InterestExpense        
Derivative Instruments, Gain (Loss) [Line Items]        
Impact of net (gains) losses of derivative financial instruments $ (3) $ (1) $ (5) $ (5)
v3.26.1
Financial Instruments - Schedule of Contingent Consideration (Details) - Contingent Consideration Acquired
$ in Millions
 6 Months Ended
Jun. 30, 2026
USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Beginning balance $ 269
Accretion and changes in fair value in Other expense (income), net 4
Ending balance $ 273
v3.26.1
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance $ 903 $ 542 $ 752 $ 472
Other comprehensive income (loss), pretax (9) 45 (21) 77
Tax 0 0 0 0
Other comprehensive income (loss), net of taxes (9) 45 (21) 77
Ending balance 1,006 733 1,006 733
Accumulated Other Comprehensive Income (Loss)        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance (539) (617) (527) (649)
Ending balance (548) (572) (548) (572)
Employee Benefit Plans        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance 5 (17) 4 (17)
Other comprehensive income (loss), pretax 0 0 1 0
Tax 0 0 0 0
Other comprehensive income (loss), net of taxes 0 0 1 0
Ending balance 5 (17) 5 (17)
Cumulative Translation Adjustment        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance (544) (600) (531) (632)
Other comprehensive income (loss), pretax (9) 45 (22) 77
Tax 0 0 0 0
Other comprehensive income (loss), net of taxes (9) 45 (22) 77
Ending balance $ (553) $ (555) $ (553) $ (555)
v3.26.1
Samsung Collaboration - Narrative (Details) - USD ($)
$ in Millions
 6 Months Ended
May 26, 2026
Jun. 30, 2026
Dec. 31, 2025
Disaggregation of Revenue [Line Items]      
Other noncurrent liabilities   $ 1,026.0 $ 1,008.0
Brazil      
Disaggregation of Revenue [Line Items]      
Gross profit sharing arrangement percentage   35.00%  
Samsung Bioepis      
Disaggregation of Revenue [Line Items]      
Collaboration agreement period   10 years  
Samsung Bioepis | Renflexis and Brenzys      
Disaggregation of Revenue [Line Items]      
Fixed payment $ 30.0    
Samsung Bioepis | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement | Renflexis and Brenzys      
Disaggregation of Revenue [Line Items]      
Collaboration agreement period 7 years    
Collaborative arrangement, amended future payment term (in years) 9 years    
Intangible asset $ 20.8    
Other noncurrent liabilities $ 20.8    
Amortize the asset useful life (in years) 9 years    
Samsung Bioepis | Brazil      
Disaggregation of Revenue [Line Items]      
Gross profit sharing arrangement percentage   65.00%  
v3.26.1
Samsung Collaboration - Schedule of Information Related to Collaboration (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Disaggregation of Revenue [Line Items]          
Sales $ 1,558 $ 1,594 $ 3,018 $ 3,107  
Cost of sales 711 720 1,388 1,392  
Selling, general and administrative 434 453 858 873  
Payables to Samsung included in Trade accounts payable 1,051   1,051   $ 952
Samsung Bioepis          
Disaggregation of Revenue [Line Items]          
Sales 166 170 318 311  
Cost of sales 100 102 191 192  
Selling, general and administrative 18 $ 20 36 $ 38  
Payables to Samsung included in Trade accounts payable $ 161   $ 161   $ 94
v3.26.1
Third-Party Arrangements - Schedule of Amount Due (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Related Party Transaction [Line Items]    
Due from Merck in Accounts receivable $ 1,492 $ 1,331
Due to Merck in Accounts payable 1,051 952
Related Party    
Related Party Transaction [Line Items]    
Due from Merck in Accounts receivable 143 98
Due to Merck in Accounts payable $ 374 $ 337
v3.26.1
Third-Party Arrangements - Schedule of Sales and Cost of Sales Resulting from the Manufacturing and Supply Agreements (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Related Party Transaction [Line Items]        
Sales $ 1,558 $ 1,594 $ 3,018 $ 3,107
Cost of sales 711 720 1,388 1,392
Related Party        
Related Party Transaction [Line Items]        
Sales 13 19 26 37
Cost of sales $ 10 $ 16 $ 21 $ 32
v3.26.1
Contingencies (Details)
$ in Millions
Mar. 12, 2026
plaintiff
Jul. 27, 2026
patent
Jul. 23, 2026
patent
Jul. 22, 2026
patent
Jun. 30, 2026
USD ($)
case
matter
Feb. 18, 2026
Dec. 31, 2025
USD ($)
Jul. 28, 2025
Jul. 22, 2025
lawsuit
Loss Contingencies [Line Items]                  
Number of shareholder derivative lawsuits filed | lawsuit                 2
Amount of legal defense reserves | $         $ 8   $ 10    
Northern District of Ohio                  
Loss Contingencies [Line Items]                  
Loss contingency, number of plaintiffs to decline settlement offer | plaintiff 2                
Number of plaintiffs | plaintiff 56                
Fosamax | Federal Court                  
Loss Contingencies [Line Items]                  
Number of pending claims         498        
Fosamax | New Jersey State Court                  
Loss Contingencies [Line Items]                  
Number of pending claims         1,478        
Fosamax | Pennsylvania State Court                  
Loss Contingencies [Line Items]                  
Number of pending claims         1        
Fosamax | California State Court                  
Loss Contingencies [Line Items]                  
Number of pending claims         149        
Fosamax | California State Court | Femur Fracture Litigation                  
Loss Contingencies [Line Items]                  
Minimum percentage of attorneys’ eligible clients to release the company and merck of any liability related to their filed claims           95.00%      
Fosamax | Femur Fracture MDL Court | Femur Fracture Litigation                  
Loss Contingencies [Line Items]                  
Minimum percentage of attorneys’ eligible clients to release the company and merck of any liability related to their filed claims               95.00%  
Implanon | Int’l                  
Loss Contingencies [Line Items]                  
Number of pending claims         7        
Implanon | Northern District of Ohio                  
Loss Contingencies [Line Items]                  
Number of pending claims         2        
Number of unfiled claims         56        
Nexplanon | CALIFORNIA                  
Loss Contingencies [Line Items]                  
Number of matters involved | matter         1        
Nexplanon | Int’l                  
Loss Contingencies [Line Items]                  
Number of pending claims         12        
Nexplanon/Implanon NXT | Int’l                  
Loss Contingencies [Line Items]                  
Number of pending claims         19        
Vtama | Subsequent Event | Encube Ethical Private Limited                  
Loss Contingencies [Line Items]                  
Loss contingency, patents under review | patent       12          
Vtama | Subsequent Event | Mylan Pharmaceuticals, Inc.                  
Loss Contingencies [Line Items]                  
Loss contingency, patents under review | patent     9            
Vtama | Subsequent Event | Natco Pharma Limited                  
Loss Contingencies [Line Items]                  
Loss contingency, patents under review | patent   9