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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Orion Oyj    ORNBV   FI0009014377

ORION OYJ

(ORNBV)
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Orion Oyj : statutory co-operation negotiations completed regarding the Research & Development function

10/19/2020 | 07:30am EST
10/19/2020

Orion's statutory co-operation negotiations completed regarding the Research & Development function

ORION CORPORATION PRESS RELEASE 19 OCTOBER 2020 at 2.15 p.m. EEST

Orion's statutory co-operation negotiations completed regarding the Research & Development function

Orion announced on 10 September 2020 that it is planning to change and refocus the strategy of its R&D function. The co-operation negotiations in Finlandrelated to these changes have been completed. As a result of the negotiations, 13 persons will be given a notice.

The changes and renewal of the Orion Research and Development organisation are intended to strengthen the company's R&D portfolio and speed up the progress of research projects. The co-operation negotiations concerning its R&D function (over 500 employees) in Finland - in Espoo, Turku and Kuopio have been completed. The negotiations concerned all members of staff in all personnel groups in R&D in Finland.

In addition to the lay-offs some employees will be transferred from the Researh and Development function to other roles at Orion Group as a part of the the reorganisation of operations.

As a result of the negotiations, 13 persons of the company's personnel will be given a notice. The lay-offs are planned to be implemented during 2020.

On 10 September 2020 Orion issued a negotiation proposal, as laid down in the Finnish Act on Co-operation within Undertakings, on the reorganisation of operations and possible personnel reductions. According to the original estimate, the negotiations could have led to cutting up to 25 jobs.

Contact person:

Terhi Ormio
Vice President, Communications, Orion Corporation
Tel. +358 50 966 4646
terhi.ormio@orion.fi

Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
Homepage: www.orion.fi/en

Orion is a globally operating Finnish pharmaceutical company - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are neurological disorders, oncology, Finnish heritage rare diseases and respiratory diseases for which Orion develops inhaled Easyhaler® pulmonary drugs. Orion's net sales in 2019 amounted to EUR 1,051 million and the company had about 3,300 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.


Disclaimer

Orion Oyj published this content on 19 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2020 11:29:01 UTC


© Publicnow 2020
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Sales 2020 1 087 M 1 316 M 1 316 M
Net income 2020 234 M 283 M 283 M
Net cash 2020 131 M 159 M 159 M
P/E ratio 2020 23,1x
Yield 2020 3,87%
Capitalization 5 398 M 6 546 M 6 537 M
EV / Sales 2020 4,85x
EV / Sales 2021 4,97x
Nbr of Employees 3 320
Free-Float 86,5%
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Technical analysis trends ORION OYJ
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TrendsBullishNeutralNeutral
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 7
Average target price 33,78 €
Last Close Price 38,37 €
Spread / Highest target 9,46%
Spread / Average Target -12,0%
Spread / Lowest Target -27,0%
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NameTitle
Timo Antero Lappalainen President & Chief Executive Officer
Satu Maarit Ahomäki Senior Vice President-Commercial Operations
Jari Ilmari Karlson Chief Financial Officer & SVP-Animal Health
Sinikka Markkula Chief Information Officer
Minna Ruotsalainen Senior Vice President-Research & Development
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