Drug maker Orion's Q2 profit rises on Bayer payments

HELSINKI, July 29 Tue Jul 29, 2014 5:11am EDT

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HELSINKI, July 29 (Reuters) - Finnish drug maker Orion reported its second-quarter operating profit rose 41 percent from a year ago, boosted by upfront payments from Germany's Bayer.

April-June operating profit increased to 86 million euros ($116 million) from 61 million in the same period a year earlier, but it included 23 million euros of payments from a prostate cancer drug development deal which was announced last month.

Orion repeated the outlook it gave in June, saying it expected this year's sales and operating profit to be at the same level as in 2013.

Shares in the company traded up 1.5 percent by 0908 GMT. ($1 = 0.7442 Euros) (Reporting by Jussi Rosendahl; Editing by Sakari Suoninen)

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