Kevin. you, Thank
quarter, important unique. these which method that's my But one of And hybrid carve-out two that two includes focus mandates review call across on it's quarter large approximately would area accounted post-separation approximately a of I what pre-separation the I'll and of business the an details by of most second that methodologies. the which remind for And It's GAAP by different Before of is QX everyone of and apples-to-apples conventional basis. quarter. commonality hybrid is it's methods accounting to commentary. revenue, is key I activity for operations in our where presented GAAP the month months
XXXX of on exclusivity up and exposure the XXXX, reported VBP, as loss Japan, quarter In the the rates. back X. Zetia million compared procurement second of which of year. currency down the United let's of Organon’s is The LOE million, the for about second better Paediatrics, the year the related was of to with Singulair XXXX. which quarter X.X% billion So VBP initiative approximately last at in COVID-XX negative estimated to third and so be the is China. now of was exchange four the loss or as the half for exclusivity quarter included impact that to which the presentation, XXXX turn revenue second second in in in the $XXX of fourth to established far the Arcoxia. of or has approximately basis impact about $XXX this with X% was $XXX largest primarily of it's Propecia round and And And portfolio to Proscar, quarter constant during mentioned the Slide products, quarter clarification last quarter that LOE in of of total The Kevin second $XX quarter a and occurred associated The brands year and of NuvaRing’s States. million than impact of second compared was volume-based and approximately to is last of to sales
adapt And comprised quarter, we to Our recoveries although, of health as measures ago fewer ongoing patients that we to compared although, of been and And negative evolving and prescribed the the global products, social do by the will We product remainder believe the continue impacts have impacts that portfolio physician visits. XXXX. affected of second persist quarter. systems expect distancing medical during year the pandemic. through experienced is to which have
COVID-XX health Foreign approximately driven fairly exchange XXX growth, by are in quarter biosimilars, of established of fertility sizable and in are brands currency derived That's impact businesses, growth Organon’s And geographically markets second about year with ex-VBP. China the and products, volume translation of in that given prior the States. points really our favorability. basis our mainly period growth and revenues impact the XX% finally, not and a surprising global had women's also the outside on key as as United we understanding seeing in well
at We'll take Slide look women's on So X. start now let's a performance franchise. with by health
business grew and in growth XX% in XX% COVID-XX are a lifted. patients to health benefited saw as women's quarter was XX% Our reported return up restrictions We their ex-FX ex-FX in the the as Nexplanon, quarter. second providers to and beginning healthcare which from
healthcare pre-pandemic is will of the result, persist incorporated through Now, in-person while impacts a And we'll shortly. the back professionals our ongoing which they're to during the negative yet year, as relative height we into guidance, levels. second And that view that expect rest XXXX. visits discuss patient the last the COVID-XX recovery to not to demonstrated of quarter, in same period pandemic
the showing as Our from well is Volume clinics. fertility from came from in to quarter. in new accounts, portfolio patients as growth XX% increase demand grew FOLLISTIM returning strength,
seeking treatments offices those We have to are patients more than to observed that wealth patients fertility visits. return normal motivated course doctor's seeking
the a of result these NuvaRing in NuvaRing’s So XXXX LOE drivers related offset the XX% more growth in penetration U.S. to generic decline increased as in than
XX% Biosimilars Turning XX. second the XX% biosimilars and reported in to Slide grew as on quarter now ex-FX.
driven in RENFLEXIS We this have two in RENFLEXIS of Canada. immunology oncology. first We in and last was the asset, in followed our and Brenzys and the Aybintio in in of launched portfolio, in July United offered which XXXX the back three Hadlima offerings XX%. five both in quarter, Ontruzant in and was U.S. by the XXXX, launched in strong ex-FX assets half up XXXX. year grew the RENFLEXIS our are Ontruzant XXXX, and XX% Globally, Australia and the States. two by largest performance in year, U.S. launched are in in Ontruzant,
performance in of the to we'll discuss XX, products it number often on because in of in terms brands of established brands established portfolio. Slide a now franchise markets as Turning the of sold, how in multiple behaves this the they're which
as So and X% reported of in XX% revenue XXXX. for established brands ex-FX down second quarter was the
of be term. the this China X% with brands. in And rebound digits to by channel. the business approximately incrementally driven important revenue down consistent about market erosion of and of in part continues over about and ago. low impacts that XX% And ex-FX. up which about XX% this out in and down price retail the were LOE, prior Excluding China to up channel established market we our COVID strategy was mainly hospital revenue single be an has ex-LOE been digits established of move Volumes in X%, expect was price disclosures represents in brands is established for intermediate our The channel grew to now the from year retail into successful. brands China, the ever a double is
second across China total versus for million, the a of $XXX quarter all lines was in XX% organized quarter up revenue year. second the reference, Just business last
however, gross items the hybrid year draw items to lines of comparability on sold. meaningful. amortization, in particularly latter, of a adjustment can, margin Again, income at from to Slide to most of and exclude if performance is make the quarter, comparisons the one-time goods case purchase sensible we and cost accounting, our revenue statement the this turning because of statement XX. prior not nature line income across Now We
$X.XXX to and in compared including So margin non-GAAP second billion with an agreements costs between of gross making reflects of of certain Merck, sales. this product have profit XXXX, compared the to percentages adjustment which representing in lower XX.X% decline last adjusted XX.X% standalone manufacturing Organon the gross The in second related costs, third-party margin year. gross quarter increase quarter was a
including are At cash year the EBITDA, against equivalents guidance commentary few billion in that is our adjusted well line QX across was While year back capitalization. Investor words prior comparisons to with challenging very our We'll debt we bank a cash our effective down can June to aligns it few make probably and rate. XX, about important P&L then on our most moments. $XXX performance A of for performance provided million. guidance all $X.X at we of tax to that XXXX Day revenue from items and come full non-GAAP the debt
million spin-off will Although cash back $XXX pre-funded about pre this be related inventory balance conveyance to that cash occur remitted will of includes to actually shortly Merck that post-separation.
today, allocation context of net So a think just is discussed We actually affirming of With free dividend that implied that of more we're becomes a Investor the billion. And our believe capital our to leverage them and in times. Day four representative priorities separation. a net we going course number be below priority today. number just XXXX excluding the And I'll endeavored would to flow, of recurring our use low allocation one. ratios cash the in set this debt we midpoint repeat guidance cost adjusted closer put at the declared one-time here be May we $X.X We've illustrative, our manageable if EBITDA of leverage at about now percentage will ratio XXs the guidance capital very if the level dividend and to forward. dividend
expect life separation portfolio on deployed organic cycle and priority manufacturing excluding in existing second plants. CapEx ongoing X% would costs. our in in an to the X% will the revenue on capital of be management opportunities to which Our growth, range products see the include for latter, of annual we And basis,
a, of opportunities like of commitment to against allocation balanced tie maintaining in debt capital reduction growth priorities, product external plans BB/BaX third b, our to [indiscernible] between Our rating. pipeline execution new a really a our develop
X.X EBITDA. below net ratio leverage to We are targeting times a long-term adjusted
basis and on the for May laid out our at both X with pro change. non-GAAP are presentation, our the Investor and guidance X today guidance the Revisiting we event if forma now affirming XX. Day, Beginning to we there Today, happened little investor is that investor May event. chart showed that we January of Turning revenue, X. this spin-off as guidance at Slide and very the is been on has
be the range contribution continue essentially $XXX of Alydia closed include billion, are and in year were of States. of of and Japan year-over-year the is to We The expect in organic. de-minimis revenue in do [indiscernible] Health June. million to NuvaRing in to that course, Impacts from from billion loss all revenue component partial year-to-date We related $X.X expected $X.X protection biggest LOE acquisition revenue, change the the approximately to for a is of the in impacts. patent the LOE primarily which United
So far, lost which we in have for not seen generic exclusivity a entrance XXXX. Dulera,
year million of So full projected that from Investor $XXX million $XXX impact at estimate we're $XXX million to our LOE Day. to $XXX million improving to the we
were that Those over Day with had is years. an Dulera to XXXX we to year that into XXXX, year attended and $XXX future Organon. know for pushes our would previously, LOE XXXX, describe cumulative dissipates the $XXX LOE XXXX As inflection XXXX. through Investor XXXX period approximately who million said four careful out exposure now of into exposure but moving we some out million, After
upcoming Year-to-date the COVID previously round year, see don't COVID the was million closely. moving of is watching we we're trial be previously to $XXX needle range we But million. impact XXXX expected. far from this likely Obviously, $XXX expected. we will about included million VBP as the next in that As VBP of that on something as a as in expect now we exposure, most instead $XXX
to disruptions COVID visits as now XXXX the However, Delta Nexplanon, opposed based are from from be effect rates to line consider we had basis, performance thought. has in COVID-XX a believe previously that variant, in more we currency where On yearly we exchange could the trends well that on tailwind modest potential as as we as slightly as be on year-to-date expect better a impact foreign well with and the translation XXXX, lagging currently. and spot
our we've performance that key and guidance, it themes to in well revenue whole, spin-off. previous talking prior aligned with our the public quarter's reflect the about continues on is to been communications Taken this the
mainly are businesses, Health that geographically growth Women's also issues are LOE we waning, brands the volume driven China, seeing ex-VBP. growth We're seeing by established we and key expected, through our growth infertility Biosimilars. and Looking volume as in
items we're outstanding. Investor now of XX, other that affirming Slide guidance on guidance Day provided the Turning an shares we we're to at updating all
now fully that's So a diluted number.
shares about mid what said reiterate margin May, weighted million we to the in low XXXX. To expect $XXX to gross be We be to diluted average, fully we expect in range. for XXs
expense of to mid be range SG&A sales. We of the expect in XX%
of undertake opportunities is expect small We spend what be in organic the digit infrastructure percentage expense to the that amount and variable a mid-single products relatively the mostly R&D R&D really lifecycle currently planning a this And revenue. range we're represents to as management of in portfolio. on for
our would R&D not As to the expense XXXX, revise range and we occur guidance fill by in programs some out a previously. that expect that we enough rise support pipeline, but to gave of these to we
this an put the adjusted margin taking So for us XX% all that to XX% EBITDA range on in together of XXXX. would
This reflects line, for and new were standalone expected be future. standalone be planning range to back debt and to since lifecycle be year of Alydia expected company, spending related we're if year spending in that our margins Depreciation that the to the a for half phasing due is the the COVID as management expect of lower to other drive delayed primarily this as to some and programs, the to again structure intended revenue is this the the of are expense of million, interest in timing range investments million that expected, the for we future our being outlook the to the book non-GAAP XX.X% rate roughly we're well believe the discussion, to and and organic established XX.X% both term. for revenue has in will taxes tax XXXX constant in basis. I'll on Wrapping which growth cash low-double closing in with remarks. and to we the stabilization portfolio driven currency call intermediate given a in to of At similar. effective this growth mid-single by $XXX grow for as to the year, of Health for point, be well Each digit integration at positioned spending low- we XXXX, is which have turn in the expect potential based brands and $XXX of as continue as biosimilars. on a ongoing than continued digits to Kevin be beginning the Below financial million of we the range We company. $XXX back are approximately women's growth franchises our up CAGRs health to progressing
