Orion and Hospira have signed a license agreement to continue the collaboration with Precedex®
ORION CORPORATION STOCK EXCHANGE RELEASE 21 OCTOBER 2013 at 8:10 p.m. EEST
Orion Corporation and Hospira, Inc. have extended their licensing agreement concerning the sedative agent Precedex® in the markets outside the Europe. Orion and Hospira (originally Abbott) have collaborated since 1994 on Precedex®.
Precedex® is a drug with an active ingredient dexmedetomidine originated by Orion. The distributor for the product outside Europe is a US-company Hospira, Inc. under Orion's license.
Dr. Liisa Hurme, Senior Vice President of Orion's Proprietary Products division, commented the agreement:
"We are very pleased that the long-lasting co-operation will continue".
Dexmedetomidine is a sedative agent originated by Orion's own pharmaceutical R&D. It is a relatively selective alpha2-agonist which acts on the central nervous system to produce sedation. Dexmedetomidine is available with the brand name Precedex® in more than 30 countries outside Europe, including the USA (since 2000) and Japan (since 2004). With the brand name dexdor® dexmedetomidine is marketed in the EU area mainly by Orion's own sales organisation (since 2012).
Hospira, Inc. is the world's leading provider of injectable drugs and infusion technologies. Through its products, Hospira helps improve the safety, cost and productivity of patient care. Headquartered north of Chicago in Lake Forest, Illinois. Hospira has approximately 16,000 employees worldwide and generated approximately $4.1 billion in net sales in 2012.
| Timo Lappalainen |
President and CEO
| Olli Huotari |
SVP, Corporate Functions
Dr. Liisa Hurme, Senior Vice President, Proprietary Products, Orion Corporation
tel. +358 50 966 2874
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. Pharmaceutical R&D focuses on central nervous system drugs, oncology and critical care drugs, and Easyhaler® pulmonary drugs.
Orion's net sales in 2012 amounted to EUR 980 million and the company had about 3,500 employees. Orion's A and B shares are listed on NASDAQ OMX Helsinki.