Organon CEO Kevin Ali Resigns Amid Audit Probe Into Wholesaler Sales Practices
Synopsis
Organon said that the investigation found that certain wholesalers in the United States were asked to buy more Nexplanon than they needed.
Organon (OGN) on Monday announced the resignation of Kevin Ali as Chief Executive Officer and a member of the board, in connection with an Audit Committee investigation into sales to wholesalers.
Shares of Organon were down nearly 15% before the bell. The company said that after concerns regarding its wholesaler sales practices for its Nexplanon product were brought to the board’s attention, the Audit Committee oversaw an independent, internal investigation into the matter.
Organon said that the investigation found that certain wholesalers in the United States were asked to buy more Nexplanon than they needed at the end of the fourth quarter of 2022, the third and fourth quarters of 2024, and the first, second and third quarters of 2025.
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