April 24, 2020 / 1:10 PM / a month ago

BRIEF-Orion Upgrades Full-Year Outlook For 2020

April 24 (Reuters) - Orion Corp (finland):

* REG-ORION UPGRADES FULL-YEAR OUTLOOK FOR 2020

* JANUARY-MARCH 2020 ORION’S PRELIMINARY NET SALES WERE EUR 280 MILLION AND PRELIMINARY OPERATING PROFIT WAS EUR 84 MILLION

* AS REGARDS SPECIALTY PRODUCTS UNIT, COMPANY ESTIMATES SALES GROWTH CAUSED BY SPIKE IN DEMAND IN EARLY PART OF 2020 TO LEVEL OFF DURING YEAR

* SALES OF GENERIC PRODUCTS IN PORTFOLIO MANUFACTURED BY OTHER PHARMACEUTICAL COMPANIES ARE ESTIMATED TO BE LOWER THAN IN PREVIOUS YEAR

* DECREASE IS ESTIMATED TO BE COMPENSATED MAINLY BY SALES OF PROPRIETARY PRODUCTS DEXDOR AND EASYHALER

* STILL ESTIMATES FULL-YEAR 2020 NET SALES TO BE AT A SIMILAR LEVEL AS IN PREVIOUS YEAR EVEN THOUGH IN Q1 OF 2020 NET SALES INCREASED CLEARLY

* ESTIMATES FULL-YEAR 2020 OPERATING PROFIT TO BE HIGHER THAN PREVIOUSLY ESTIMATED DUE TO STRONG START OF YEAR

* NEW OUTLOOK IS BASED ON ASSUMPTION THAT ORION’S OWN PRODUCTION CAN CONTINUE NORMAL OPERATIONS DESPITE COVID-19 PANDEMIC Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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