CEO's reviews 2007

"Profits remained at a good level"

CEO Timo Lappalainen's review, published on 7 February 2008

“The net sales of the Orion Group have shown steady growth. In the light of the key figures for 2007 the performance was successful and at least as good as the previous year in relation to the comparable figures. All the five business divisions are performing well financially, and their achievements are starting to reflect the chosen strategy. "

"In the past year we have entered into a number of in-licensing agreements having thereby added about 50 new products mainly into the portfolios of the Specialty Products and Animal Health businesses to accelerate their growth. In the Proprietary Products business, the strong growth is continuing in the sales of Stalevo® and Comtess® /Comtan® for Parkinson’s Disease."

"All our major clinical research programmes are progressing forward in 2008. The most comprehensive one, STRIDE-PD with Stalevo, is also advancing steadily. FIRST-STEP, a Phase III study conducted by out marketing partner Novartis mainly in North America, has been completed with a statistically significant positive outcome of the primary endpoint. The study was made to determine whether treatment with Stalevo provides better symptomatic benefit than conventional treatment in early Parkinson’s Disease."

"Orion continued showing successful sales performance in Finland where our sales grew more rapidly than the total market. The growth of our operations in 2007 in the Central and Eastern European markets gives us reason to continue our efforts to grow.”

 

CEO Jukka Viinanen’s review, published on 24 October 2008

”Orion’s net sales have continued to increase steadily after the previous Interim Report. Sales of the Parkinson’s Disease medicines in Orion’s own sales territories grew by 14%. Also the deliveries to marketing partner Novartis were higher than during the comparative period. In addition, the sales of generic prescription medicines, self-care products and veterinary medicines continued to develop positively.”

”Expenditure on research as well as selling and marketing has been increased at the pace of first quarters, as planned. Planned actions to increase investments in research as well as selling and marketing have continued like reported early this year. This has slowed down the development of the Group’s EBIT. In 2007 Orion has launched clinical studies with dexmedetomidine in the sedation of patients in intensive care, with the new COMT inhibition for Parkinson’s Disease, as well as with levosimendan in heart diseases of dogs. All three study programmes are ongoing. The number of product launches in Orion’s own European sales units has increased and will continue to increase as a result of more efficient in-licensing operations.”

”The development of the in-market sales of Orion’s most important products, those for Parkinson’s Disease, continued to be positive.”

 

CEO Jukka Viinanen’s review, published on 6 August 2007

”Orion’s net sales during the first half of the year increased by about 5% compared to the same period last year. The sales of entacapone products in Orion’s own sales network grew by 11%, but also the sales of generic prescription medicines, self-care products and veterinary medicines developed positively. However, the Group’s operating profit did not improve due to planned investments in R&D as well as sales and marketing. The increase of the R&D costs was due to the entry of dexmedetomidine into Phase 3 and the new COMT inhibitor candidate into Phase 1 in spring. Moreover, new product launches and preparations for up-coming further launches during the latter half of the year have increased the sales and marketing expenses. These operations support Orion’s strategy, which in the near-term focuses on broadening our own sales network and increasing our presence in Europe. In the long-term, Orion aims to develop and sell new medicines that are based on in-house R&D.”

”Market sales of Orion’s most important product, entacapone, continued to develop favourably. Deliveries of Stalevo and Comtan to the marketing partner Novartis grew less than the partner’s own sales and Orion’s deliveries to Novartis in previous years. This is mainly due to the timing of the partner’s purchases.”

”Networking in the R&D operations continued in June when Orion signed a partnership agreement with Medeia Therapeutics Ltd, a Finnish based research company. In the beginning of the year, Orion established a partnership with Aurigene Discovery Technologies, an Indian-based company. These partnerships strongly support Orion’s strategy and our aims to strengthen our research portfolio through networking.”