Operating profit of the Orion Group (Hex ORNAS, ORNBS) for the first quarter of 2004 seems to be better than forecasted in the consensus estimates the company is aware of. The positive development of the Orion Pharma business division in the first months of the year is mainly due to the supply of the new Parkinson's disease drug Stalevo for the US and European launches as well as the cost savings achieved in Orion Pharma. Orion anticipates the deliveries of Stalevo to stabilise in the coming months.
Due to the good operating profit for the first quarter, lower R&D expenditure than estimated earlier, as well as the signing fee from Abbott Laboratories for the revised licensing agreement concerning the heart failure drug Simdax, the consolidated full-year operating profit for the Orion Group is estimated to clearly improve from the previous year.
Orion Corporation
Jukka Viinanen Jari Karlson
President and CEO CFO
President and CEO CFO
Publisher:
Orion Corporation
Corporate Administration
Orionintie 1A, 02200 Espoo
Homepage: www.orion.fi