Orion to investigate the possible outsourcing of its pharmaceutical production in Kuopio, Finland

2024-02-19

ORION CORPORATION PRESS RELEASE 19 FEBRUARY 2024 at 13:15 EET

Orion to investigate the possible outsourcing of its pharmaceutical production in Kuopio, Finland

Orion Corporation is evaluating the possible outsourcing of its pharmaceutical production in Kuopio, part of its Global Operations function, to an entity outside Finland. The basis for the possible outsourcing would be the lack of competitiveness of the Kuopio plant and the high investment needs of the plant.

The evaluation is due to the low competitiveness of the plant, low capacity utilisation, increasing quality requirements in the pharmaceutical industry, and high investment needs. Volumes of the plant are low and due to the lack of competitiveness, outlook for growth is very limited. Therefore, the additional investment needed would not be justified.

The products currently manufactured in Kuopio would continue to be part of Orion’s product portfolio also in the future. The estimated time scope is that the plant would continue to operate until at least the summer of 2026.

The company has today issued a negotiation proposal in accordance with the Co-operation Act within undertakings regarding the reorganisation of operations and possible personnel reductions. The statutory negotiations include the entire personnel in operations and functions which support production in the Kuopio plant, altogether about 40 people. Other employees working in the Kuopio plant are not impacted by the statutory negotiations.

Orion’s manufacturing plant in Kuopio specialises in liquids and self-care products. Among the most widely known of the products manufactured in Kuopio are nasal sprays, cough medicines, and ear drops.

Orion’s Global Operations and Quality Management have about 1,900 employees in total. Global Operations consists of production at Orion's own plants in Espoo, Turku, Kuopio and Salo; an external supplier network; procurement; and Fermion Oy, which manufactures active pharmaceutical ingredients in Hanko and Oulu.

Contact person:

Terhi Ormio, VP, Communications

Orion Corporation

Tel. +358 50 966 4646

E-mail: terhi.ormio@orion.fi

About Orion

Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. We develop, manufacture and market human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and consumer health products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others. Orion's net sales in 2023 amounted to EUR 1,190 million and the company had about 3,600 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.

Publisher:

Orion Corporation

Communications

Orionintie 1A, FI-02200 Espoo, Finland

www.orion.fi

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