Organon & Co. OGN reported third-quarter 2021 adjusted earnings of $1.67 per share, which beat the Zacks Consensus Estimate of $1.44 per share. The company reported earnings of $2.38 per share in the year-ago quarter.Total revenues in the third quarter were $1.60 billion, down from $1.61 billion reported in the year-ago quarter. Total revenues in the third quarter decreased 1% year over year on a reported basis. Sales beat the Zacks Consensus Estimate of $1.59 billion.Shares of Organon were down in pre-market trading.Please note that Organon started trading on the NYSE following its spin-off from pharma giant Merck MRK in June 2021.With this spinoff, Merck received a distribution of approximately $9 billion from Organon, which it plans to utilize for strategic business development opportunities. The spin-off will allow Merck to focus on innovation and its key growth drivers.Along with earnings release, Organon declared its quarterly dividend of $0.28 per share of its issued and outstanding common stock.All growth rates mentioned below are on a year-over-year and reported basis.Quarter in DetailOrganon records revenues under its three business franchisees — Women’s Health, Biosimilars and Established Brands.In the reported quarter, Women’s Health sales were $381 million, down 10% from the year-ago quarter, owing to a decline in NuvaRing (etonogestrel/ethinyl estradiol vaginal ring) sales, which were hurt by generic competition. Decline in sales of Nexplanon, a single-rod subdermal contraceptive implant, also negatively impacted Women’s Health revenues in the quarter. However, sales of Follistim, AQ Cartridge (follitropin beta injection) were positively impacted by a combination of COVID-19 recovery and increased demand during the quarter.Biosimilars revenues were $140 million, up 41% from the year-ago quarter, driven by continued demand growth for Renflexis (infliximab-abda) and strong uptake of Ontruzant (trastuzumab-dttb) in the United States. This was partially offset by a decrease in Ontruzant sales in the EU due to increasing competitive pressures.Established Brands’ revenues were $1.02 billion, down 6% from the year-ago quarter. Established Brands represents a broad portfolio of medicines that are generally beyond market exclusivity, like leading brands in cardiovascular, respiratory, dermatology and non-opioid pain management, for which generic competition varies from market to market.Research and development costs were $111 million, significantly up on a yearly basis, while selling, general and administrative expenses rose 20.9% year over year to $388 million.2021 GuidanceOrganon narrowed the financial guidance for total revenues it provided earlier this year. The company now expects revenues in the range of $6.2-$6.3 billion for 2021, compared with the previous projection of $6.1-$6.4 billion.In a separate press release, Organon announced that it has entered into a definitive agreement with Finland-based drug development company, Forendo Pharma, wherein it will acquire the latter. The transaction is expected close in December 2021 subject to customary conditions.Zacks Rank & Stocks to ConsiderOrganon currently carries a Zacks Rank #4 (Sell).Top-ranked stocks in the healthcare sector include GlaxoSmithKline plc GSK and Endo International plc ENDP, both carrying a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.GlaxoSmithKline’s earnings estimates have been revised 8.6% upward for 2021 and 5.5% upward for 2022 over the past 60 days. The stock has rallied 17.3% year to date.The company's earnings have surpassed estimates in two of the trailing four quarters, missed the same once and matched it once.Endo International’s earnings estimates have been revised 1.3% upward for 2021 and 0.4% upward for 2022 over the past 60 days.Its earnings have surpassed estimates in each of the trailing four quarters. Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. See Zacks’ Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GlaxoSmithKline plc (GSK): Free Stock Analysis Report Endo International plc (ENDP): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis Report Organon & Co. (OGN): Free Stock Analysis Report To read this article on Zacks.com click here.