October 22, 2013 / 9:13 AM / 4 years ago

Profit at Finnish drug maker Orion hit by generic competition

HELSINKI, Oct 21 (Reuters) - Finnish drug maker Orion reported a 12 percent fall in third-quarter operating profit on Tuesday due to increased price competition following the expiration of its Parkinson’s drug patents.

Orion reported a quarterly operating profit of 67 million euros ($91.6 million), down from 76 million euros a year earlier and in line with the market’s average forecast.

Quarterly sales fell 4 percent from a year earlier to 237 million euros, below an expected 245 million euros. ($1 = 0.7312 euros) (Reporting by Ritsuko Ando, Editing by Patrick Lannin)

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