$OGN 20260618 7.5 CALL$ finally... a winner... no prize guessing what happened to the company in question... no, I didn't buy it after the announcement of M&A. I don't do big follow-up trades... just pocket changes on companies I thought would do well long term. Alas, $Organon & Co(OGN)$ despite its female healthcare focus was not able to perform well over the years since going alone (spin-off from $Merck(MRK)$ ). The main reason is its huge amount of debts loaded on it by Merck prior to the spinoff. The company has also been silly not to lock in rates when interest rates were low, adopting a floating rate instead. This has resulted in the company having to service a relatively higher interest rates especially in 2022-23.
As its share price dropped, i became interested in buying its calls. Did it a couple of times when its share price was beaten down. Despite a high debt, OGN is actually performing well in the female market. It continues to launched new products and continues to be profitable (net of servicing debt).
Then, came this unexpected deal... apparently I am not the only one who sees value in OGN... biomedical tech continues to be one of my favourite hunting grounds... cheers 🥂 to that!
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