Merck spinout Organon buys Finland’s Forendo, adds endometriosis asset

Five months after its spinout from Merck, women’s health company Organon has added a Phase II-ready endometriosis therapy by acquiring Finnish biotech Forendo — and the company is signaling that more deals could be in the offing.

Although the upfront payment is fairly small at $75 million, the heavily backloaded agreement could deliver shareholders of Forendo Pharma Ltd. $870 million in milestones, including $270 million during the pre-commercial phase...