Orion to investigate possible sale of Orion Diagnostica
ORION CORPORATION STOCK EXCHANGE RELEASE 23 JANUARY 2018 at 12.20. p.m. EET
Orion Corporation has evaluated strategic alternatives of the Group's Orion Diagnostica business division and decided to investigate possible sale of Orion Diagnostica or other transaction that would result in transfer of Orion Diagnostica outside the Orion Group. A possible result of the investigation may also be that Orion Diagnostica will continue as a part of the Orion Group.
The Orion Group has two business areas, or operating segments: Pharmaceuticals business and Diagnostics business, which consists of Orion Diagnostica business division. Orion Diagnostica operates as an independent business and it has no material business synergies with the Pharmaceuticals business. During the Financial Period 2016 Orion Diagnostica's Net sales were EUR 55 million (about 5% of the Orion Group's Net sales) and Operating profit EUR 8.4 million (about 3% of the Orion Group's Operating profit).
| Timo Lappalainen |
President and CEO
| Olli Huotari |
SVP, Corporate Functions
Jari Karlson, CFO
tel. +358 50 966 2883
Orionintie 1A, FI-02200 Espoo
Orion is a globally operating Finnish pharmaceutical company - 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 diseases for which Orion develops inhaled Easyhaler® pulmonary drugs. Orion's net sales in 2016 amounted to EUR 1,074 million and the company had about 3,500 employees. Orion's A and B shares are listed on Nasdaq Helsinki.