ORNBVNasdaq HelsinkiDrug Manufacturers - GeneralIFRS · EUR

Orion Oyj

Orion is a Finnish pharmaceutical company that operates globally, focusing on the development, manufacturing, and marketing of human and animal medicines, as well as active pharmaceutical ingredients. The company is known for its wide range of original and generic medicines, as well as self-care products. Orion's core therapeutic areas include oncology and pain management. The company is listed on Nasdaq Helsinki and has a significant presence in the Nordic region.

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Revenue1,807m EUR
−3.8 %y/y
Operating profit (EBIT)27.5m EUR
−73.2 %y/y
EBIT margin1.5%
−3.9 ppy/y
Net income-70.1m EUR
−258.6 %y/y
Free cash flow216m EUR
+72.2 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

05001,0001,5002,0002,500m EUR2020: 1,136 m EUR2020: EBIT 74 m EUR20202021: 1,547 m EUR2021: EBIT 229 m EUR20212022: 2,031 m EUR2022: EBIT 197 m EUR20222023: 1,894 m EUR2023: EBIT 205 m EUR20232024: 1,878 m EUR2024: EBIT 103 m EUR20242025: 1,807 m EUR2025: EBIT 28 m EUR20251,80728
RevenueOperating profit (EBIT)

Business

Share of revenue
Innovative Medicines30 %

Includes Orion's developed and marketed innovative drugs.

Branded Products20 %

Long-marketed branded pharmaceutical products.

Generics and Consumer Health25 %

Generic drugs and consumer health products.

Animal Health15 %

Pharmaceuticals for veterinary use.

Fermion10 %

Manufacture of active pharmaceutical ingredients for Orion and others.

Customers

Orion serves a diverse range of customers including healthcare professionals, hospitals, pharmacies, and veterinary clinics. The company's innovative medicines are primarily targeted at oncologists and specialists in pain management. Branded products and generics are widely used by general practitioners and pharmacists. The animal health segment caters to veterinarians and pet owners. Orion's Fermion division supplies active pharmaceutical ingredients to other pharmaceutical companies.

Healthcare Professionals

Purchase innovative medicines for oncology and pain management.

Pharmacies and Hospitals

Buy branded and generic pharmaceuticals for distribution.

Veterinary Clinics

Use animal health products for treating pets and livestock.

Pharmaceutical Companies

Source active pharmaceutical ingredients from Fermion.

Strategy

Orion's strategic priorities focus on expanding its innovative medicines portfolio, particularly in oncology and pain management. The company aims to enhance its branded products and generics business in Europe and Asia. Orion is investing in data-driven decision-making to optimize its operations and improve efficiency. The company is also committed to maintaining high ethical standards and fostering a supportive work environment for its employees.

Expand Innovative MedicinesMedium term

To drive growth in oncology and pain management.

Enhance Branded ProductsMedium term

To strengthen market position in Europe and Asia.

Data-Driven OperationsLong term

To improve decision-making and efficiency.

Geography

Q3/2025

Orion operates globally with a strong presence in the Nordic region, particularly Finland, which contributes significantly to its revenue. The company also has a growing market in Europe, North America, and other parts of the world. Orion's manufacturing facilities are primarily located in Finland, ensuring high-quality production standards. The company's strategic geographic presence allows it to leverage regional market dynamics and regulatory environments effectively.

Suomi ja Baltia62 %
Scandinavia18 %
Rest of World11 %
Eastern Europe9.6 %

Share of the revenue the company reports by geography.

Risks

Orion faces several business and financial risks, including regulatory changes in the pharmaceutical industry and geopolitical tensions affecting global supply chains. The company is also exposed to operational risks such as production disruptions and quality control issues. Currency fluctuations pose a financial risk due to Orion's international operations. Additionally, competitive pressures in the generics market could impact profitability.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Geopolitical Tensions1Regulatory Changes2Competitive Pressures3Currency Fluctuations4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Geopolitical TensionsImpact: CriticalLikelihood: Medium

    May disrupt supply chains and increase costs.

  2. Regulatory ChangesImpact: HighLikelihood: Medium

    Could affect product approvals and market access.

  3. Competitive PressuresImpact: HighLikelihood: Medium

    Could erode margins in the generics market.

  4. Currency FluctuationsImpact: MediumLikelihood: Medium

    Impact financial performance due to international operations.

Accounting

Judgemental items
Revenue Recognition

Involves judgment in determining performance obligations.

Currency Translation

Impacts financial statements due to international operations.

R&D Cost Estimates

Affects timing of expense recognition.

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Last updated: 24/09/2026