Orion Corporation (OMX: ORNBV) had another solid quarter and is holding up well in a negative market. Q2 net sales were 471 million Euros (39) and the company generated an operating profit of 158 million, up more than 20% from comparison period. Orion is guiding net sales to be slightly higher in 2011 than in 2010 and operating profit to be higher.
Parkinson medicines Stalevo, Comtess and Comtan generated 32% of the revenue and had faster revenue growth than company average. For US and Europe the aforementioned drugs have 1-2 years of patent protection left. Orion recognizes this will cause the sales to decline and plans to ensure financial stability and create profitable growth through organic growth and increased efficiency.
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