Why Organon & Co. (OGN) Surged On Thursday

We recently published a list of While Wall Street Naps, These 10 Stocks Run Wild. In this article, we are going to take a look at where Organon & Co. (NYSE:OGN) stands against other best-performing stocks.

Organon rallied for a third consecutive day on Thursday, jumping 4.26 percent to finish at $9.54 apiece following the Food and Drug Administration’s (FDA) interchangeability approval of its Hadlima medicine into Humira, paving the way for further accessibility to the said treatment.

In a joint statement, Organon & Co. (NYSE:OGN) and Samsung Bioepis Co., Ltd. said that the Hadlima high- and low-concentration autoinjectors can now be interchanged with Humira, allowing pharmacists to substitute the reference product with a biosimilar without the need to consult the prescriber, depending on state pharmacy laws.

Why Organon & Co. (OGN) Surged On Thursday

A pharmacist wearing a white lab coat and a face mask dispenses biosimilars at a pharmacy.

“An increased uptake of biosimilars may lead to improved patient access to biologic therapies and potential savings for the US health care system. As a company dedicated to making medicines more accessible, Hadlima, now designated as fully interchangeable with the reference product, has a greater potential to bring savings for patients,” Organon & Co. (NYSE:OGN) said.

Hadlima is a tumor necrosis factor (TNF) blocker indicated for appropriate patients with rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn’s disease, ulcerative colitis, plaque psoriasis, hidradenitis suppurativa, and uveitis.

Overall, OGN ranks 9th on our list of best-performing stocks. While we acknowledge the potential of OGN, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than OGN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.