Orion’s performance improved compared to the previous period

In the October-September period, pharmaceutical company Orionn reported a significant improvement in its financial results compared to the previous year. The company’s operating profit increased to 92.9 million euros from 40.7 million euros in the same period a year ago, surpassing analyst forecasts.

One of the key factors contributing to this improvement was a 30.7 million euro installment related to the transfer of the insurance portfolio of Orion Pension Foundation’s B section. However, even after adjusting for this item, the result still showed improvement from the previous year.

The turnover for the quarter was 321.1 million euros, higher than the estimated 318.9 million euros and the 294.5 million euros from the previous year. Earnings per share also increased, reaching 0.54 euros per share compared to the expected 0.43 euros.

In January-December 2023, Orionn’s turnover was EUR 1,189.7 million and operating profit EUR 274.9 million, with an explanation for the decrease due to a significant advance payment of 228 million euros recorded in the comparison period.

Managing director Liisa Hurme highlighted several positive developments at Orionn during her speech at an industry event last week.

“We have made significant progress in our clinical development pipeline and are seeing strong growth in our drug Nubeqa,” she said.

Hurme also mentioned ongoing clinical trials and new projects in the pipeline that could further boost revenue and profits.

Orionn’s guidance for operating profit in 2024 is estimated to be between EUR 1,340-EUR 1,410 million with an operating profit range of between EUR

By Editor

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