Orion to Exit Rare Disease Drug Development
May 10, 2022
Orion expanded on it previously announced plans to refocus its R&D saying it will move away from rare and neurodegenerative diseases and invest in the development of new therapies for cancer and pain.
As part of the changes, the company said it would eliminate 32 positions it now considered redundant in Finland. Six of those employees will be offered positions elsewhere in the Orion Group.
The company said by focusing its resources, it will be able to develop new treatments for patients’ needs and generate the most effective return on its R&D efforts. This will also be the most effective way to support its growth strategy.
Orion is currently developing a new inhaled pulmonary drug (a tiotropium formulation for the treatment of COPD) for the European market, and its bioequivalence study is underway. This study will be completed as planned. The company will also continue to manufacture, sell and market inhaled pulmonary drugs, which is an important product group for the company, and it intends to continue to invest in its pulmonary drugs that are already on the market.
Sales and marketing of the existing products in the neurological disease range will also be continued as before.
Orion issued its negotiation proposal, as laid down in the Finnish Act on Co-operation within Undertakings, on the reorganization of operations and possible personnel reductions on 24 March 2022.
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