The arbitrators on 18 December 2000 decided the case where Orion Corporation's Swedish subsidiary Orion Pharma AB (Orion) had initiated earlier this year arbitration proceedings against Swedish Roche AB (Roche) and Novartis Sverige AB (Novartis). Orion wanted the arbitrators to confirm that Roche and Novartis had breached the 1970 Consortium Agreement between the parties by selling in late 1999 their holding in Swedish Kronans Droghandel AB to Swedish Atle AB thus ignoring Orion's right of first refusal to acquire said shares.The arbitration tribunal, however, dismissed Orion's claim and decided that there was no breach of said agreement by Roche and Novartis. The arbitrators were of the opinion that Orion exercised its right of first refusal too late even though Orion had acted in conformity with written instructions by the Chairman of the Consortium.
Orion shall pay the fees of the arbitration tribunal as well as Roche's and Novartis's litigation costs in the amount of 175,000 euros.
The decision of the arbitration tribunal is final.