Orion exceeds expectations in first quarter of 2010

Orion has published its financial report for the first quarter of 2010, during which the company experienced “better than anticipated” levels of sales growth.

The firm’s net sales grew by 12.8 per cent year-on-year during the quarter from 190.1 million euros (165 million pounds) to 214.5 million euros, while operating profit increased by 24.9 per cent in the same period.

Heart failure treatment Simdax was among the products to perform strongly in the first quarter, while sales of Orion’s Parkinson’s disease drugs also continued to grow.

Timo Lappalainen, president and chief executive officer of Orion, also pointed to clinical development advances such as the successful clinical trial of dexmedetomidine as a mark of progress.

Based on the company’s quarterly results, he forecast that Orion’s net sales and profits will continue to see year-on-year improvements across the whole of 2010.

Last month, Orion appointed Matti Kavetvuo as the new vice-chairman of its board of directors, a decision confirmed at the company’s annual general meeting.