Orion Corporation Press Release
Communications 11 March 2016 at 14.00 EET
Fermion, a manufacturer of active pharmaceutical ingredients (APIs), will build a new production plant to the Hanko manufacturing site in Finland. The construction work will begin in spring 2016 and the new facility is scheduled for completion in 2018. The investment is valued at more than EUR 30 million and it increases Fermion's production capacity in Hanko. The project aims to modernise the production at Fermion's Hanko site, prepare the site for the compliance of tightening regulatory requirements and ensure Fermion's ability to meet increasing demand. Fermion is a wholly owned subsidiary of Orion Corporation, a Finnish pharmaceutical company.
The Hanko investment includes the construction of approximately 6,000-square-meter factory building, the machinery and the equipment. The investment replaces the manufacturing site's oldest plant that will be gradually run down. However, along with the new production facility the capacity of Fermion's Hanko site can be increased approximately by half from current to 300 tonnes. One tonne of active pharmaceutical ingredient is enough to manufacture even 100 million drug doses, depending on the drug.
"With the new production facility we continue to ensure the high quality standards and delivery reliability of Fermion. We also prepare ourselves for higher future demand by increasing capacity. For example Orion has in development pipeline many promising drug molecules for which Fermion manufactures the active ingredients both in development and commercialisation phases. This investment project guarantees Fermion's ability to deliver the active ingredients for Orion's current and new proprietary products not forgetting our other customers. Fermion has an important role in the global pharmaceutical market as we manufacture APIs for a number of essential medicines", says Arto Toivonen, the President of Fermion.
In addition to Hanko site, Fermion has a manufacturing plant in Oulu that is mainly focused on manufacturing APIs for smaller volume specialty products including cancer drugs. Over the past five years Fermion has invested several million euros also in Oulu site including two new production modules for manufacturing of highly potent active pharmaceutical ingredients.
"We believe strongly in Finnish pharmaceutical industry and know-how. Modern production facilities and equipment along with skilled personnel ensures that Fermion continues to be profitable and competitive also in the future", estimates Arto Toivonen, the President of Fermion.
"In these times it is good news when a Finnish company invests in industry in Finland, this time in Hanko. Finland needs investments and hopefully we can now expect more of these cases. It is wonderful that we have export companies that are improving employment and generating export income by investing in production in Finland", says Finnish Minister of Economic Affairs Olli Rehn.
"For the city of Hanko it is very pleasing that Fermion invests in extending the production capacity and the manufacturing site in Hanko. Through its subsidiary Fermion Orion is one of the biggest employers in Hanko and one of the industrial flagships of the city. It is encouraging that a Finnish company operating in international markets is investing and what makes it especially positive is that it happens in Hanko. Orion and the city of Hanko have 46 years of common history and this investment means a long and bright future to that collaboration", says Denis Strandell, the mayor of Hanko.
Fermion is a Finnish manufacturer of active pharmaceutical ingredients (API) and part of Orion Group. Fermion develops and manufactures APIs for Orion and other pharmaceutical companies globally. The Company has expertise and capacity in manufacturing of highly active pharmaceutical ingredients and in some APIs Fermion is the global market leader. Fermion's manufacturing sites are located in Hanko and Oulu, Finland. The Company's net sales in 2015 excluding supplies to Orion were EUR 53 million.
Arto Toivonen, President, Fermion Oy, tel. +358 (0) 50 966 7402
Publisher Orion Corporation
Orionintie 1A, FI-02200 Espoo, Finland
Orion is a globally operating Finnish company developing pharmaceuticals and diagnostic tests - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals, active pharmaceutical ingredients and diagnostic tests. The Company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are central nervous system (CNS) disorders, oncology and respiratory for which Orion developes inhaled Easyhaler® pulmonary drugs.
Orion's net sales in 2015 amounted to EUR 1,016 million and the Company had about 3,400 employees. Orion's A and B shares are listed on Nasdaq Helsinki.