From Globe Newswire: 2024-08-08 05:00:00

Orion Corporation reported strong financial results for the first half of 2024, with net sales totaling EUR 636.7 million and operating profit at EUR 121.8 million. The outlook for 2024 has been upgraded, with estimated net sales of EUR 1,440-1,480 million and operating profit of EUR 350-380 million. Collaboration agreements with partners and milestone payments contribute to the forecasted figures.

President and CEO Liisa Hurme highlighted Nubeqa® as a key growth driver for Orion, with strong sales performance driving overall results. Operating profit grew faster than net sales, with Nubeqa® royalties playing a significant role. The company has also exercised an option with MSD to convert a co-commercialization agreement for opevesostat into an exclusive global license, impacting the outlook positively.

Orion’s marketing efforts with partners, such as Bayer, have been successful, with products like Nubeqa® driving growth. The company’s strong performance in the first half of 2024 has led to an upgraded outlook for the year, with increased net sales and operating profit expectations. Continuing the trend of strong performance, Orion is set to capitalize on its pipeline of innovative medicines.



Read more at Globe Newswire:: Orion Group Half-Year Financial Report January–June 2024