Orion Co., Ltd. Press Release February 19, 2024 13:15 EET
Orion to investigate the possibility of outsourcing pharmaceutical production in Kuopio, Finland
As part of its global operations functions, Orion Corporation is considering the possibility of outsourcing pharmaceutical production in Kuopio to entities outside Finland. The rationale for possible outsourcing would be the Kuopio factory’s lack of competitiveness and the need for significant investment in the factory.
This rating is due to the low competitiveness of the factories, low utilization rates, increasing quality requirements in the pharmaceutical industry, and high investment needs. Growth prospects are very limited as factory output is low and uncompetitive. Therefore, the additional investment required is not justified.
Products currently manufactured in Kuopio will continue to be part of Orion’s product portfolio in the future. The estimated period is that the power plant will continue to operate until at least the summer of 2026.
The Company has today announced a negotiation proposal regarding the restructuring of its business and possible reductions in workforce pursuant to the Cooperation Act. The statutory negotiations will include all operational and functional personnel supporting production at the Kuopio plant, approximately 40 people in total. Other employees working at the Kuopio factory are not affected by the statutory bargain.
Orion’s manufacturing facility in Kuopio specializes in liquids and self-care products. The most widely known products manufactured in Kuopio are nasal sprays, cough medicines and ear drops.
Orion’s global operations and quality control organization has a total of approximately 1,900 employees. The global operation consists of production at Orion’s own factories in Espoo, Turku, Kuopio and Salo. External supplier network. Sourcing; Fermion Oy manufactures active pharmaceutical ingredients in Hanko and Oulu.
Contact person:
Terhi Ormio, Vice President of Communications
Orion Co., Ltd.
Phone number +358 50 966 4646
Email: terhi.ormio@orion.fi
About Orion
Orion is a globally operating Finnish pharmaceutical company and a builder of happiness. The company develops, manufactures and markets pharmaceuticals and active pharmaceutical ingredients for human and veterinary use. Orion has a broad portfolio of proprietary and generic pharmaceutical products and consumer health products. The core therapeutic areas of our pharmaceutical research and development are oncology and pain. The proprietary products developed by Orion are used to treat cancer, neurological and respiratory diseases, among others. Orion’s 2023 net sales amounted to his 1.19 billion euros, and the company had approximately 3,600 employees at year-end. Orion’s A and B shares are listed on Nasdaq Helsinki.
the publisher:
Orion Co., Ltd.
communication
Orionintie 1A, FI-02200 Espoo, Finland
www.orion.fi
