Organon & Co. (NYSE:OGN) is one of the 10 High-Flying Stocks With Double-Digit Returns.
Organon bounced back by 30.93 percent on Friday to close at $11.26 apiece, as investors snapped up shares following news that Sun Pharmaceuticals is upsizing its takeover offer of the company to $13 billion.
A report by The Economic Times said on the same day that Sun Pharma submitted a binding offer to acquire Organon & Co. (NYSE:OGN) for $13 billion, versus the $12 billion it offered initially.
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It said that Sun Pharma has already secured the backing of three global lenders, including JPMorgan, MUFG, and Citi.
Organon & Co. (NYSE:OGN) was spun off from Merck in 2021. It is engaged in the development of therapies for reproductive health, women’s health, and contraception, among others.
Earlier this year, the listed US-based firm announced results from the late-stage clinical trial of its VTAMA cream—the only aryl hydrocarbon receptor (AhR) agonist indicated for the treatment of both plaque psoriasis in adults, as well as atopic dermatitis (AD) in adults and pediatric patients aged 2 years and above.
Based on the results, the treatment candidate demonstrated early and consistent improvement in disease severity, as measured by vIGA-AD and EASI, and itch, as measured by PP-NRS, for patients down to age 2 with moderate to severe AD.
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