Inside Information: Orion Upgrades Full-Year Outlook For 2024

2024-09-11 02:51:31

(MENAFN- GlobeNewsWire - Nasdaq) ORION CORPORATION
STOCK EXCHANGE RELEASE – INSIDE INFORMATION
11 SEPTEMBER 2024 at 09:30 EEST

Inside information: Orion upgrades full-year outlook for 2024

Orion Corporation upgrades the full-year outlook for 2024 both for the part regarding net sales and operating profit. Orion's product sales and royalty income has continued to grow faster than expected during the second half of 2024 and this good development is anticipated to continue during the remainder of the year. Due to these reasons, Orion upgrades the full-year outlook for 2024.

The outlook for 2024 includes one Nubeqa® sales-related milestone payment of EUR 70 million which is included in both the net sales outlook and the operating profit outlook. Orion expects to record this milestone payment in Q3 2024.

New full-year outlook, provided on 11 September 2024

Net sales are estimated to be EUR 1,470 million to EUR 1,510 million.

Operating profit is estimated to be EUR 370 million to EUR 400 million.

Previous full-year outlook, provided on 1 July 2024

Net sales are estimated to be EUR 1,440 million to EUR 1,480 million.

Operating profit is estimated to be EUR 350 million to EUR 380 million.

Orion Corporation

Liisa Hurme
President and CEO

Olli Huotari
SVP, Corporate Functions

Contact person :
Tuukka Hirvonen, Investor Relations, Orion Corporation
tel. +358 10 426 2721

Publisher :
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland

Orion is a globally operating Finnish pharmaceutical company – a builder of well-being for over a hundred years. We develop, manufacture and market human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and consumer health products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others. Orion's net sales in 2023 amounted to EUR 1,190 million and the company had about 3,600 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.

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