Q3 2024 Orion Oyj Earnings Call Transcript
Key Points
- Orion Oyj (ORINY) reported strong underlying business growth in Q3, with a 25.9% increase in net sales excluding major milestones.
- The company received significant milestone payments totaling EUR 130 million, boosting net sales and operating profit.
- Innovative Medicines division showed robust growth, with underlying sales increasing by 73.5% even without milestone contributions.
- Generics and Consumer Health division achieved a healthy growth of 5% in Q3, despite a competitive market environment.
- Animal Health division continued its recovery with a year-to-date sales increase of 20.9%, driven by animal sedatives.
- Orion Oyj (ORINY) faced a setback with the negative results of the Gun Excellon phase three study, leading to the discontinuation of further Guna alone clinical development.
- The company had to cancel the ODM 111 project due to preclinical toxicology findings, resulting in a EUR 17.5 million write-down.
- Operating expenses increased by EUR 50 million, mainly due to planned rises in R&D and sales and marketing costs.
- The company exited the Russia business last year, which negatively impacted the generics business results.
- Fermion's external sales were constrained due to capacity being diverted to support Orion's internal API production.
Good afternoon, ladies and gentlemen, and welcome to Orion's Earnings conference call and webcast for the financial period of January, September 2024.
My name is Doa Hibon and I'm the head of Ir here at Oregon.
In a few moments, we will kick off with the presentation by our CFO Rene Lindell, our CEO Lisa Hurme. She is recovering from a foot operation which restricts her mobility at the moment and thus she couldn't join us here today.
But we have a good team here led by Renee and also for the Q&A session we have today here, Mrs Tiarra, who is heading our R&D and Innovative Medicines Business Division.
After the presentation, you will have the possibility to ask questions from the management and we will first take questions from the conference call line. And after that, then we will turn to the webcast chat questions. So you are able to fill in your questions through the webcast chat function if you wish to do so, kindly represent your name and the org state your name and the organization you are representing before asking your
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