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Press Release

Orion to investigate possible sale of Orion Diagnostica

Orion Oyj
Posted on: 23 Jan 18

ORION CORPORATION         STOCK EXCHANGE RELEASE   23 JANUARY 2018 at 12.20. p.m. EET         

Orion to investigate possible sale of Orion Diagnostica

Orion Corporation has evaluated strategic alternatives of the Group's Orion Diagnostica business division and decided to investigate possible sale of Orion Diagnostica or other transaction that would result in transfer of Orion Diagnostica outside the Orion Group. A possible result of the investigation may also be that Orion Diagnostica will continue as a part of the Orion Group.

The Orion Group has two business areas, or operating segments: Pharmaceuticals business and Diagnostics business, which consists of Orion Diagnostica business division. Orion Diagnostica operates as an independent business and it has no material business synergies with the Pharmaceuticals business. During the Financial Period 2016 Orion Diagnostica's Net sales were EUR 55 million (about 5% of the Orion Group's Net sales) and Operating profit EUR 8.4 million (about 3% of the Orion Group's Operating profit).

Orion Corporation

  Timo Lappalainen
  President and CEO
  Olli Huotari
SVP, Corporate Functions

Contact person:
Jari Karlson, CFO
tel. +358 50 966 2883

Orion Corporation
Orionintie 1A, FI-02200 Espoo

Orion is a globally operating Finnish pharmaceutical company - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals, active pharmaceutical ingredients and diagnostic tests. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are central nervous system (CNS) disorders, oncology and respiratory diseases for which Orion develops inhaled Easyhaler® pulmonary drugs. Orion's net sales in 2016 amounted to EUR 1,074 million and the company had about 3,500 employees. Orion's A and B shares are listed on Nasdaq Helsinki.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Orion Oyj via GlobeNewswire

Last updated on: 24/01/2018

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