Orion highlights ‘good progress’ in 2010

Orion has published its financial results for the 2010 full-year period, reporting "good progress" and rising sales over the 12 months.

The company's net sales total advanced by ten percent compared to 2009 to reach a total of 850 million euros (717.18 million pounds), while profit, earnings and cash flow levels also experienced growth.

Among the products which saw an improved commercial performance last year were the Parkinson's drug Stalevo and the Easyhaler pulmonary therapy, while the intensive care sedative Precedex became one of Orion's bestselling offerings.

The firm also made progress on its research efforts, submitting the new sedative treatment dexmedetomidine for European approval, while also agreeing a new oncology collaboration with Endo Pharmaceuticals.

Timo Lappalainen, Orion's president and chief executive officer, said: "We believe this good progress will continue in the current year and we estimate that our net sales and operating profit excluding non-recurring items will be slightly higher than in 2010."

Next month, the company will hold its annual general meeting, in which a vote will be taken on the reorganisation of its board of directors.