Orion Corporation is improving the outlook for full-year 2020 operating profit published on April 24, 2020.

Operating profit in 2020 is expected to grow slightly or increase from 2019.

Visibility towards the end of the year has improved in various areas of operations. For example, the reduced availability of generic products manufactured by other pharmaceutical companies in Orion's product ranges is not expected to affect full-year sales and operating profit as negatively as previously assumed. Operating expenses for the full year are expected to be somewhat lower than previously estimated.

The new outlook assumes that Orion's own production will be able to operate normally despite the COVID-19 pandemic. This requires, among other things, that workers continue to be protected in such a way that sick leave is not substantially increased, that protective equipment, starting materials, semi-finished products and materials are available and that logistics chains function adequately.

New outlook for 2020, issued on 8.7.2020

Orion estimates that net sales in 2020 will be at the same level as in 2019 (net sales in 2019 were EUR 1,051 million).

Operating profit is estimated to increase slightly or increase from 2019 (operating profit in 2019 was EUR 253 million).

Previous outlook estimate for 2020, issued on 24.4.2020

Orion estimates that net sales in 2020 will be at the same level as in 2019 (net sales in 2019 were EUR 1,051 million).

Operating profit is estimated to be at the same level as in 2019 (operating profit in 2019 was EUR 253 million).

Orion will publish its semi-annual report for January-June 2020 on Friday, July 17, 2020.

Contact:

Jari Karlson

Tel: +358 10 426 2883

Web: www.orion.fi

Orion is a Finnish pharmaceutical company a builder of well-being that operates worldwide. Orion develops, manufactures and markets human and veterinary medicines as well as active pharmaceutical ingredients. The company constantly invests in research and development of new drugs and treatments. The core therapeutic areas of Orion's pharmaceutical research are central nervous system diseases, cancer diseases, rare diseases of the Finnish genetic heritage and respiratory diseases for the treatment of which Orion develops inhaled Easyhaler lung drugs. Orion's net sales in 2019 were EUR 1,051 million, and the company employed about 3,300 people at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.

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