Orion Pharma, Espoo, Finland

Orion Pharma conducted extensive evaluations of one of Aphios Corporation’s anti-cancer products in a subrenal capsule assay (SRCA) which provides the possibility of testing human tumors in animals, thus providing a high predictive value for the clinical use of the new compounds. The tests showed that Aphios Corporation’s anti-cancer product was quite effective against human drug-resistant ovarian tumors.

Orion Pharma is engaged in the research, development, manufacture and marketing of pharmaceuticals and drug substances, as well as drug-related products for the prevention and treatment of diseases. The product portfolio encompasses all elementary therapy groups, also veterinary drugs. International operations account for approximately half of the net sales. The growth of the business is increasingly based on drugs resulting from the company’s own pharmaceutical research activity. Orion has several drug manufacturing plants in Finland, and one in Denmark.

International operations accounted for 47% of Orion Pharma’s total sales in 1998. For marketing pharmaceuticals, Orion has own subsidiaries and sales representative networks in Sweden, Norway, Denmark, Germany, France, the UK and Ireland, Switzerland and Hungary. Orion Pharma has also marketing agreements with Novartis, Abbott Laboratories and Nippon Kayaku.

The net sales of the Orion Group during January-September 1999 increased by +3.8% to FIM 3,993 million or EUR 671.6 million (MFIM 3,847 / MEUR 646.9 during 1-9/1998). International operations grew by 3.6% to MFIM 1,458 / MEUR 245.2 (MFIM 1,407 / MEUR 236.6). Profit before extraordinary items and taxes was MFIM 673 / MEUR 113.2 (MFIM 571 / MEUR 96.0) up 17.8%. Earnings per share were FIM 6.72 / EUR 1.13 (FIM 5.80 / EUR 0.98) and shareholders’ equity per share was FIM 55.09 / EUR 9.27 FIM 60.62 / EUR 10.20).

For more information, visit Orion Pharma at www.orion.fi.