Orion CEO discusses success of 2008

Orion’s president and chief executive officer (CEO) Timo Lappalainen has remarked on the company’s “successful” 2008.

Despite the ongoing financial crisis, Orion was not materially affected and it continues to build a presence in Europe, he said in the group’s yearly review.

Not only has it become the biggest pharmaceutical provider in Finland but it demonstrated “vigorous” growth faster than average in eastern Europe, he added.

However, the year did include some disappointing moments, Mr Lappalainen explained, such as the delay in phase III dexmedetomidine studies and the resources required for patent litigation of Stalevo and Comtan in the US.

Moving forward, Orion is focusing on research and development of several new products with a more flexible cost structure, he added.

“Our vision is to be an innovative European pharmaceuticals company,” Mr Lappalainen concluded.

Last month, the group announced that the primary objective of its Stride-PD study involving 747 subjects was not reached.

The investigation found that Stalevo was not able to postpone the onset of dyskinesia.