ORION PHARMA AND PHARMACIA ANNOUNCE COLLABORATION TO DEVELOP AND COMMERCIALIZE A NEW ANXIETY MEDICATION

Orion Corporation and Pharmacia Corporation today announced the signing of an agreement under which the two companies will collaborate in the development and commercialization of Orion Pharma's investigational new drug deramciclane in the United States. Deramciclane belongs to a class of anti-anxiety medicines known as 5-HT2 receptor antagonists. It is currently being investigated for generalized anxiety disorder (GAD) in Phase 3 clinical studies in Europe.

Under the terms of the agreement, Orion Pharma and Pharmacia will conduct the Phase 3 clinical studies of deramciclane in the U.S. The clinical development program will be funded by Orion Pharma and planned and supervised jointly by the two companies. Pharmacia's clinical development organization will manage the Phase 3 trials.

Pharmacia will distribute and market deramciclane in the U.S. upon regulatory approval of the product. Orion Pharma will have an option to co-promote the product in the U.S. The agreement further provides Pharmacia with the rights to develop and market deramciclane in countries outside the U.S. and Europe including Japan.

The European studies and registrations are the sole responsibility of Orion Pharma and are not in the scope of the agreement between .....................................