In a recent announcement, pharmaceutical company Orion has increased its guidance for 2024 in terms of both turnover and operating profit. This positive development comes after the company entered into a worldwide exclusive license agreement with MSD for opevesostat and other drugs that inhibit the activity of the CYP11A1 enzyme.
Under the new guidance, Orion’s turnover is projected to be between 1,440–1,480 million euros, compared to the previous forecast of 1,340–1,410 million euros. The operating profit guidance has also been revised to 350–380 million euros, up from the previous 280–310 million euros forecast.
This news reflects Orion’s continued commitment to growth and innovation in the pharmaceutical industry. With this new agreement with MSD representing a significant milestone for the company, it showcases their ability to adapt and evolve in a dynamic industry landscape.
As part of this agreement, 60 million euros will be released from Orion’s balance sheet, originally set aside for joint development costs. This development will have a positive impact on Orion’s turnover and operating profit in the third quarter of 2024.
Overall, this news highlights Orion’s ongoing success in expanding its partnerships and agreements within the pharmaceutical industry. With a strong focus on innovation and growth, this company continues to make strides in shaping the future of healthcare.
