“We warmly welcome the new Orion Corporation to the Nordic Exchange in Helsinki. With the demerger of Orion Corporation investors are able to invest easier than before in business they want. I believe that Orion Corporation offers an interesting alternative for investors in the Nordic equity market,” says Jouni Torasvirta, President of the Helsinki Stock Exchange.
“The two new companies resulting from the demerger of the present Orion will be strong players in their own fields of business. As separate listed companies their evaluation will be easier for investors, thanks to clear operational structures and improved comparability to peers. Both companies have also strong balance sheets and a long history of operations,” says Jukka Viinanen, President and CEO of Orion Corporation.
Orion Corporation is included in the Health Care sector (same as before: 35202010-Pharmaceuticals). The trading code Orion’s Class A share will be ORNAV (ISIN code FI0009014369) and that of the Class B share ORNBV (ISIN code FI0009014377).
About Orion Corporation
The new Orion Corporation which will start its operations on 1 July 2006 has two businesses: Pharmaceuticals and Diagnostics. In the Pharmaceuticals business, Orion is engaged in developing, manufacturing and marketing pharmaceuticals and active pharmaceutical ingredients. Orion also carries on intensive research with the aim of bringing new proprietary products to the international market. Within the Diagnostics business, Orion develops, manufactures and markets diagnostic tests and test systems, the focus being on point-of-care tests for the use of doctors' offices and small laboratories. Derived from the figures of 2005 of the demerged company, the carve-out pro-forma net sales of Orion for 2005 were about EUR 586 million and the operating profit was about EUR 155 million. The Pharmaceuticals business accounted for about 93% of the net sales.
About OMX
OMX is a leading expert in the exchange industry. Through the Nordic Exchange in Copenhagen, Stockholm, Helsinki, Riga, Tallinn and Vilnius, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. Our integrated technology solutions span the transaction chain enabling efficient securities transactions for exchanges, clearing organizations and central securities depositories around the world. OMX is listed on the Nordic Exchange in Stockholm, Helsinki and Copenhagen. For more information, please visit www.omxgroup.com.
