RTTNews | Jun 8, 2021 12:10PM EDT

12:10 Tuesday, June 8, 2021 (RTTNews.com) - Shares of pharmaceutical company Organon & Co. (OGN) are down 5 percent on Tuesday's trading despite there being no company announcement or other news to impact the stock.

Organon, a spinoff of Merck & Co. Inc's (MRK) women's health, trusted legacy brands and biosimilars businesses, became a publicly traded company on June 3.

The stock is currently trading at $29.00, down $2.09 or 7% on the NYSE. OGN has traded between $28.68 and $38.75 during the past 52 weeks.

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