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Orion initiates arbitration in the dispute involving shares of Kronans Droghandeln

Orion Corporation's Swedish subsidiary Orion Pharma AB (Orion) has initiated arbitration proceedings against the Swedish Roche AB (Roche) and Novartis Sverige AB (Novartis) where Orion wants the arbitration tribunal to confirm that Roche and Novartis have breached the 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 and thereby causing Orion to suffer damage.