Skip to content

Orion putting aside the New Venture project

At its meeting held today, the Board of  Directors of Orion Corporation has made a decision to discontinue  the project initiated a year ago for the establishment of a new pharmaceutical research company. A solution satisfactory for Orion could not be found for the arrangement in the light of the recent developments in Orion Pharma. Following the termination of the deramciclane clinical studies in February due to insufficient efficacy, the research portfolio is being re-evaluated from the prevailing starting points.
Conclusions will be drawn during the second quarter as part of the actions currently underway in Orion Pharma to adjust operations for improved profitability. The revisited R&D strategy and its impacts on the new portfolio will be disclosed at Orion's next Capital Markets Day, which is to be held on 5 June 2003 in Espoo, Finland.
Orion Corporation
Jukka Viinanen                       Jari Karlson
President and CEO                 CFO                            

Contact persons:
Jukka Viinanen, President and CEO, phone +358 10 429 3710                
Jari Karlson, CFO, phone +358 10 429 2883
Orion Corporation
Corporate Administration
Orionintie 1A, FIN-02200 Espoo