April 28, 2020 / 9:09 AM / a month ago

BRIEF-Orion Q1 Operating Profit Up At EUR 84 Mln

April 28 (Reuters) - Orion Corp (finland):

* Q1 OPERATING PROFIT EUR 84 MILLION VERSUS EUR 55.0 MILLION YEAR AGO

* Q1 SALES EUR 280 MILLION VERSUS EUR 241.0 MILLION YEAR AGO

* COVID-19 PANDEMIC IMPACTED ORION’S OPERATIONS IN MANY WAYS IN Q1 OF 2020

* SALES OF SIMDAX (LEVOSIMENDAN), USED IN TREATMENT OF ACUTE DECOMPENSATED HEART FAILURE, CONTINUED TO GROW WELL IN Q1 OF YEAR

* GROWTH IS MAINLY DUE TO A STRONG INCREASE IN DEMAND FOR PHARMACEUTICALS CAUSED BY COVID-19 PANDEMIC

* NET SALES OF PARKINSON’S DRUGS STALEVO® AND COMTESS/COMTAN INCREASED AS ANTICIPATED

* BASIC DEMAND FOR THESE PRODUCTS HAS NOT ESSENTIALLY CHANGED

* INCREASE IS EXPECTED TO LEVEL OFF IN COURSE OF YEAR.

* TRAVEL BANS AROUND WORLD DUE TO COVID-19 PANDEMIC ARE ESTIMATED TO CAUSE DISTURBANCES IN GLOBAL PHARMACEUTICAL SUPPLY CHAINS

* TRAVEL BANS MAY NEGATIVELY AFFECT NET SALES OF SPECIALTY PRODUCTS UNIT IN PARTICULAR FROM END OF YEAR.

* EXCEPTIONAL CIRCUMSTANCES MAY CAUSE DELAYS IN ONGOING PROJECTS

* ESTIMATES THAT IN 2020 NET SALES WILL BE AT A SIMILAR LEVEL AS IN 2019 (NET SALES IN 2019 WERE EUR 1,051 MILLION)

* RESEARCH PROJECTS IN EARLIER PHASES MAY HAVE DELAYS BECAUSE SOME OF RESEARCH AND DEVELOPMENT PERSONNEL HAS TRANSFERRED TO ASSISTING IN ORION SUPPLY CHAI Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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