Shares of Organon & Co. (NYSE:OGN) gained 6% on Friday morning after the company announced that an internal investigation found no evidence of misconduct tied to prior biosimilar purchases from a supplier.
According to a filing with the U.S. Securities and Exchange Commission, the audit committee of Organon’s board — supported by external legal counsel — completed an independent review of the matter and concluded that no corrective action is necessary.
The company said the investigation uncovered no improper behavior related to the transactions under review. It also confirmed that there are no required revisions to previously issued financial statements or disclosures filed with the SEC.
The audit committee initiated the review after receiving information on February 11 regarding the timing of biosimilar purchases made in prior years. Organon publicly disclosed the probe the following day, on February 12.
Organon added that it expects to file its Form 10-K for the fiscal year ended December 31, 2025, on schedule.