Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Endometriosis affects approximately 10 percent of women of reproductive age and is one of the most common gynecologic disorders. Treatment options include…
Organon, the women's health pure-play spun off from Merck this summer, has agreed to pay up to $945 million to acquire Finnish biotech Forendo Pharma. The deal…
Organon announced that the Phase 2 ELENA proof-of-concept study evaluating OG-6219 (oral HSD17B1 inhibitor) did not demonstrate improvement in…
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Organon acquired Finnish women's health company Forendo Pharma for $75M upfront plus up to $270M in development/regulatory milestones and up to $600M in commercial milestones (~$954M total); the acquisition closed December 13, 2021. The lead asset, FOR-6219 (later OG-6219), was a first-in-class oral HSD17B1 inhibitor intended as a non-hormonal treatment for endometriosis-related pain. On July 2, 2025, Organon disclosed that the Phase 2 ELENA proof-of-concept study did not demonstrate improvement in moderate-to-severe endometriosis-related overall pelvic pain versus placebo and announced it plans to discontinue the OG-6219 clinical development program — ending the asset that was the central rationale for the deal (Organon had earlier taken a non-cash impairment on the program). Organon stated it remains committed to its women's health pipeline.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Organon & Co. / Forendo Pharma (this deal) | 2021 | $954M | — |
| Organon & Co. / Dermavant Sciences Ltd. | 2024 | $1.2B | — |
| Sumitovant Biopharma / Myovant Sciences Ltd. | 2022 | $1.7B | 60 |
| Astellas Pharma Inc. / Ogeda SA | 2017 | $850M | 59 |
| Mylan Inc. / Famy Care Limited (women's healthcare businesses) | 2015 | $800M | 56 |
| Watson Pharmaceuticals (Actavis Inc.) / Uteron Pharma SA | 2013 | $305M | 16 |
| Sun Pharmaceutical Industries Ltd. / Organon & Co. | 2026 | $11.8B | — |
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More: 2021 deals · Women's Health deals