Orion Corporation

What Orion Corporation does

Orion Corporation is a Finnish pharmaceutical company headquartered in Espoo that develops, manufactures, and markets human and veterinary pharmaceuticals as well as active pharmaceutical ingredients (APIs). Founded in 1970 and publicly listed on the Helsinki Stock Exchange (ORNBV), the company employs approximately 4,000 professionals and operates its own commercial infrastructure in more than 30 countries across Europe, Asia-Pacific, and North America. Its core therapy areas are oncology and pain, with proprietary human-pharmaceutical franchises including Nubeqa (darolutamide) for prostate cancer, the Easyhaler respiratory inhaler portfolio, Stalevo for Parkinson's disease, and a broad base of generic and consumer-health products. The company also runs an Animal Health division (Orion Animal Health) covering proprietary and generic veterinary medicines, and a wholly owned API manufacturing subsidiary (Fermion) with production in Oulu and Hanko, Finland.

The technology base combines small-molecule drug discovery with emerging biologics capabilities, including bispecific antibodies, CAR-T cells, antibody-drug conjugates (ADCs), and proprietary drug-delivery platforms such as Easyhaler. The most strategically significant pipeline asset is ODM-212, an oral pan-TEAD inhibitor targeting the Hippo signaling pathway, which received EU Orphan Drug Designation for malignant mesothelioma in June 2026 and is advancing in Phase 1/2 (TEADES) and Phase 1b/2 (TEADCO) clinical trials across mesothelioma, KRAS G12C-mutated NSCLC, and pancreatic cancer. Oncology R&D is supported by dedicated units in immuno-oncology, cancer genomics, and ADCs, as well as the Veturi research ecosystem in personalized medicine.

Orion makes money through a mix of direct proprietary drug sales (Nubeqa royalties and product sales, Easyhaler, Stalevo, women's health), licensed distribution partnerships (Bayer globalizes Nubeqa; Zoetis holds exclusive US rights to Tessie), API sales through Fermion to external customers, and veterinary product sales. In 2025, the company generated EUR 1,889.5 million in net sales (+22.5% YoY) and EUR 631.6 million in operating profit (+51.6% YoY), with Q1 2026 sales of EUR 417.7 million (+17.8% YoY); the EUR 180 million Q4 2025 Nubeqa milestone payment materially boosted headline results. Management's 2026 outlook targets net sales of EUR 1,950-2,100 million and operating profit of EUR 600-750 million, with a confirmed EUR 1.80 per share dividend, a share buyback authorization, and an active in-licensing and bolt-on M&A posture (notably the 2022 V.M.D. NV acquisition for ~EUR 130 million and the 2025 Abzena antibody license).

Name

Orion Corporation

Legal name

Orion Corporation

Website

https://orionpharma.com

Company type

Public

Founded year

1970

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Orion Corporation is a Finnish pharmaceutical company that develops, manufactures, and markets proprietary and generic human and veterinary medicines plus active pharmaceutical ingredients, serving healthcare providers, patients, and animal-health customers across more than 30 countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Espoo

HQ country

Finland

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Pharmaceutical Product Sales: Sales of proprietary and generic human pharmaceuticals including branded drugs like Nubeqa, Easyhaler products, and consumer health products. Q4 2025 net sales rose 60.1% to EUR 695.3 million boosted by milestone payments.
2. Royalty Income: Royalty revenue from partnered products including Nubeqa (darolutamide) which showed strong growth with both royalties and product sales increasing significantly. EUR 180 million milestone payment received in Q4 2025.
3. Active Pharmaceutical Ingredients: Fermion manufactures active pharmaceutical ingredients for Orion's own use and for external customers.
4. Veterinary Products: Orion Animal Health develops, manufactures and markets veterinary medicines and animal health solutions with both proprietary and generic products.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Orion Corporation is a globally operating Finnish pharmaceutical company that develops, manufactures, and markets human pharmaceuticals and veterinary medicines, with a focus on oncology, pain therapy, and respiratory diseases. The company also produces active pharmaceutical ingredients (APIs) through its Fermion division for other pharmaceutical manufacturers.

Product overview

Orion Corporation is a Nordic pharmaceutical company with a diversified portfolio combining proprietary innovative medicines and generic pharmaceuticals. The product portfolio centres on core therapy areas of oncology (including Nubeqa® and investigational ODM-212) and pain (including Easyhaler® respiratory products), with significant contributions from women's health and animal health divisions. Orion operates across the pharmaceutical value chain through its proprietary medicines, generic products, consumer health offerings, veterinary medicines (Orion Animal Health), and active pharmaceutical ingredient manufacturing (Fermion). The company collaborates with Bayer on Nubeqa® (prostate cancer) and markets Tessie® (veterinary) through partner Zoetis.

Differentiator

Problem solved

Functional benefit

Brands

• Fermion: Active pharmaceutical ingredients (API) manufacturing subsidiary of Orion Corporation
• Orion Animal Health
• Easyhaler
• TEADES
• Veturi

Products and services

• Nubeqa (darolutamide)
• Easyhaler Portfolio
• Stalevo
• Tessie (tasipimidine)
• Orion Animal Health Portfolio
• Fermion API Manufacturing

Quantifiable outcome

• NUBEQA (darolutamide) showed significantly less cognitive decline (-15.8% vs -36.1%, p=0.009) compared to enzalutamide in advanced prostate cancer patients
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and major.

• ZoetiscoreChannel Partner/ Reseller/ Distributor · 12 May 2026Zoetis holds exclusive rights to market and sell Tessie (tasipimidine oral solution) in the United States. Tessie is indicated for treatment of noise aversion and separation anxiety in dogs and is anticipated to be available by mid-2027. This expands Zoetis' behavioral product portfolio alongside Sileo and Bonqat.
• AbzenacoreStrategic or Co-development Partner · 23 October 2025Orion obtained an exclusive commercial license for one of Abzena's monoclonal antibodies targeting a high unmet need cancer. The antibody was developed using Abzena's proprietary technology and will strengthen Orion's oncology R&D pipeline.
• V.M.D. NV (subsidiary of Inovet BV)majorStrategic or Co-development Partner · 15 June 2022Orion acquired Belgian private company Inovet BV's subsidiary V.M.D. NV, a veterinary pharmaceuticals company, for approximately EUR 130 million. The deal aims to expand Orion's product portfolio, geographical presence, and manufacturing capabilities in the animal health sector.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bayer: Co-developer and global commercializer of Nubeqa (darolutamide) together with Orion, making Bayer the most direct peer given shared economics on the franchise and a similar oncology/pharma orientation across the EU.
• Astellas Pharma: Markets Xtandi (enzalutamide), the principal competitive rival to Orion's Nubeqa in advanced prostate cancer, making Astellas the most direct therapeutic competitor in Orion's flagship oncology indication.
• H. Lundbeck: Nordic peer (Danish-headquartered specialty pharma) with comparable revenue scale, specialty-pharma focus, and central nervous system / specialty disease pipeline emphasis that overlaps with Orion's neurology and pain franchises.
• Ipsen: European specialty pharmaceutical company with an oncology and specialty-care portfolio of similar size and revenue mix to Orion, competing for the same specialty prescribing audiences in EU markets.
• Recordati: Italian specialty pharmaceutical company with proprietary and generic products in oncology, rare disease and consumer health, directly comparable to Orion's portfolio breadth and European geographic footprint.
• Zoetis: Exclusive US distribution partner for Orion Animal Health's Tessie; Zoetis is the global pure-play animal health leader and the most direct comparator for Orion Animal Health's growth trajectory and franchise strategy.

Broad incumbents

• Roche: Global oncology incumbent whose oncology, biologics and ADC capabilities overlap with Orion's emerging immuno-oncology, ADC and bispecific antibody strategy as a benchmark for scale and pipeline expectations.
• AstraZeneca: One of the largest global oncology players with broad I-O and targeted-therapy franchises that overlap with Orion's oncology ambition; relevant as a competitive benchmark for ODM-212 and pan-TEAD programs.
• Sanofi: Global human pharma with a significant animal health (Boehringer-Sanofi) footprint, making Sanofi one of the few big pharmas operating in both human specialty pharma and animal health at scale similar to Orion's combined portfolio.
• Novartis: Global oncology and specialty pharma major whose targeted-therapy and radioligand programs sit alongside Orion's oncology pipeline, providing competitive context for pipeline ambition and clinical development scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/orionpharma
• Facebookfacebook.com/OrionCorporation
• LinkedInlinkedin.com/company/orion-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Orion Corporation