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A claim for damages filed against Orion Corporation concerning hormone replacement product sales in France

Laboratoire Innothéra S.A. from France has filed a request for arbitration against Orion Corporation Orion Pharma to take place in Paris. In its request, Innothéra claims at least FF 800 million from Orion in compensation for damage based on an alleged breach of agreement. Orion denies the allegation both in terms of the basis of the claim and the amount of damage.

According to Innothéra's claim, Orion has unlawfully terminated the distributorship agreements concerning its Divina and Indivina hormone replacement therapy products.

Orion Corporation regards that it has only given several notifications of Innothéra's decreased promotional activity, without meaning any actual termination of the agreements in question, and that it has provided for Innothéra to continue promotional efforts in accordance with the Divina agreement.

Orion Corporation Orion Pharma's total invoicing of the Divina products from Innothéra in 1999 was somewhat over MEUR 2.8 (MFIM 17). Indivina is presently under EU MRP regulatory review.