ORION CORPORATION
INSIDE INFORMATION / STOCK EXCHANGE RELEASE
17 FEBRUARY 2022 at 23.32 EET
Orion's collaboration partner Bayer upgrades estimate on Nubeqa's peak sales potential
Orion's collaboration partner Bayer has upgraded estimate on Nubeqa's (darolutamide) peak sales potential. According to Bayer's new estimate, Nubeqa's annual global peak sales could exceed EUR 3 billion. Earlier Bayer has anticipated that Nubeqa's annual global peak sales could exceed EUR 1 billion.
Bayer holds global commercial rights to darolutamide and Orion is entitled to receive annually tiered royalties on global darolutamide sales. The total annual royalty rate is approximately 20% including product sales to Bayer. Initially the total annual royalty rate will be slightly lower, and as sales increase, the total annual royalty rate will increase. Orion manufactures the product for global markets and co-promotes the product in Europe with Bayer.
In addition to royalties, Orion is entitled to receive progressive one-off milestone payments from Bayer that may total EUR 280 million, depending on the future sales development of Nubeqa.
Orion Corporation
| Timo Lappalainen President and CEO | Olli Huotari SVP, Corporate Functions |
Contact person:
Tuukka Hirvonen, Orion Investor Relations
tel. +358 10 426 2721
Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
http://www.orion.fi/en
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Orion is a globally operating Finnish pharmaceutical company - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are neurological disorders, oncology and respiratory diseases for which Orion develops inhaled pulmonary medication. Orion's net sales in 2021 amounted to EUR 1,041 million and the company had about 3,350 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.
