Orion 2024: a year of growth, innovation, and impact

Financials

A strong financial standing creates a solid foundation for building well-being together. Our year was also a success in terms of our financial figures.

Our net sales increased by 29.6% compared to the previous year.

Operating profit grew by 51.6% compared to last year.

Putting patients first

Building well-being remained at the core of our operations. In 2024, this meant improving the lives of patients worldwide, working to ensure the availability of medicines, and expanding our presence to the world's third-largest pharmaceutical market.

Our goal is to be a truly global pharmaceutical company and empower people around the world to live their lives to the fullest. We are proud that our products are sold on four different continents through us or our partners.

In 2024, we expanded into Japan, the world's third-largest pharmaceutical market. Our new office in Tokyo supplies medicines primarily for hospital use.

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As a pharmaceutical supplier, Orion is committed to the uncompromising quality and safety of its products. We strictly adhere to Good Practices (GxP) in the pharmaceutical industry and expect the same from all our value chain partners. We ensure compliance through regular assessments and audits.

At Orion, we believe that the key to developing effective and meaningful treatments lies in actively involving patients at every step of the journey. Learn more about our commitment to patient engagement and how we are working together with patients to transform healthcare.

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Research & Development

The year 2024 was significant for Orion innovations. Encouraging clinical results, impressive figures, and continuous work on strategic investments brought us closer to our goal of building well-being for more people worldwide.

In September, we received historic news for Orion when Bayer announced that our prostate cancer drug surpassed €1 billion in sales this year, making it a so-called blockbuster. This is the first time a molecule discovered by Orion has reached such a milestone. Most importantly, it means that more and more patients have been able to access the treatment.

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The Phase III ARANOTE study conducted by Orion and Bayer showed that darolutamide combined with hormonal therapy significantly prolongs the time to cancer progression. The positive results could help bring the treatment to a broader patient population.

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Orion's innovative drug research and development focuses on two growing therapeutic areas that are significant both for individuals and society: cancer and pain. Additionally, we develop generic and animal health products.

​Our novel therapies change the lives of patients across the globe.

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Environmental responsibility

In terms of environmental responsibility, we raised the bar even higher. We both focused on long-term goals and seized concrete opportunities to make improvements today.

Orion's climate targets align with the latest climate science: we commit to reducing emissions from our own operations by 70% by 2030 from the 2023 level, and require that 78% of our suppliers set science-based targets by 2029. This supports the Paris Agreement's 1.5-degree target without using carbon offsets.

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In 2024, Orion promoted the use of renewable energy by covering all its district heating needs with renewable energy guarantees of origin, thereby supporting the development of renewable energy production in Finland. As a result, Orion's combined market-based Scope 1 and Scope 2 emissions decreased by 21% compared to 2023.

Ethical business

The pillars of responsible business guided our work also in 2024. We closely monitored both our own operations and those of our partners and donated to those in need.

As part of its sustainability efforts, Orion wanted to support the well-being of children and youth this year by donating to Save the Children Finland, which does significant work internationally. The support helps provide food aid and support for hobbies and learning materials in Finland, and half of the donation goes to vaccinating children and treating malnutrition in Sudan.

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In the pharmaceutical industry, responsibility is not just a promise – it involves continuous monitoring. In 2024, we conducted a total of 34 sustainability audits, all carried out on-site. Four audits of different suppliers revealed a total of five critical findings. Three of these related to local regulatory compliance management and two to employee safety. The suppliers immediately prepared corrective action plans, and Orion actively monitored their implementation.

People

None of the above could have been achieved without our 3,700+ well-being professionals who put their hearts and expertise into serving our customers.

There are altogether 3,700 of us Orionees in over 35 different countries. The work of Orionees builds well-being, drives innovation, and impacts millions of lives around the world.

Orion's Board of Directors and Executive Team guide the company towards sustainable growth and innovation. Their work ensures that we make the right decisions for customers, patients, and society. The diversity of Orion's leadership has also received external recognition.

Safety is part of every Orionee's daily life, and we believe that a strong safety culture is born from continuous learning. That's why our line managers organize regular safety sessions for employees, discussing various aspects of safety from multiple perspectives.

In the pharmaceutical industry, responsible and ethical conduct is everyone's business. Orion's Code of Conduct defines our operating principles and guides our daily work – from compliance with laws and regulations to integrity and sustainability. All Orion employees regularly complete the Code of Conduct online training to keep the common rules clear and ensure that responsibility is realized in everyday actions.

At Orion, we offer our employees unique opportunities to grow and develop – both professionally and personally. We believe this creates meaningful and long-term career paths. This is also reflected in the fact that Orion careers are often exceptionally long – for many of us, spanning decades. This is why many of our recruitments are filled internally.

Your work builds well-being, drives innovation and impacts millions of lives around the world.

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We thank all our customers, partners, and Orionees for a great 2024 – let's continue building well-being together in the years to come!