Orion Pharma sees 37% hike in 2005 profits

Finnish drugmaker Orion Pharmaceuticals says that its 2005 operating profit rose 37% to 181.1 million euros ($216.7 million) from 132.2 million euros in the year-earlier period. The firm's net sales were down 3.2% to 1.9 billion euros due to lower-than-expected net sales in its pharmaceutical wholesale business.

The firm's R&D expenditure increased slightly to 76.5 million euros, with the firm's STRIDE-PD (STalevo Reduction In Dyskinesia Evaluation) trial of Stalevo (levodopa, carbidopa and entacapone) in Parkinson's disease dominating its drug development pipeline. In addition, the firm says that the results of a Phase II assessment of orally-administered levosimendan for the treatment of chronic heart failure will be published this summer, following extensive data analysis.

Orion also confirmed its intention to demerge into two new companies, Orion Corp and Oriola-KD as of June 30 this year (Marketletters passim).