Orion announces amended settlement agreement over the proprietary drug Precedex®
ORION CORPORATION STOCK EXCHANGE RELEASE 22 SEPTEMBER 2014 at 6.20 p.m. EEST
Orion Corporation ("Orion") together with Hospira, Inc. ("Hospira") and Sandoz Inc. and Sandoz Canada Inc. (hereinafter collectively "Sandoz") have amended the settlement agreement published on 5 December 2013 regarding the market entry of Sandoz in the United States with generic version of Orion's Precedex® product.
The settlement agreement has been amended so that Sandoz may launch generic version of Precedex® in the United States immediately.
The other terms and conditions of the settlement agreement are confidential.
In compliance with the applicable U.S. laws, the above agreement will be filed with the United States Federal Trade Commission and the United States Department of Justice.
| Timo Lappalainen |
President and CEO
| Olli Huotari |
SVP, Corporate Functions
Olli Huotari, SVP, Corporate Functions
tel. +358 10 426 3054
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 2013 amounted to EUR 1,007 million and the company had about 3,500 employees. Orion's A and B shares are listed on NASDAQ OMX Helsinki.