Orion - Company Announcement

Decision by the Board of Directors to repurchase own shares

ORION CORPORATION      STOCK EXCHANGE RELEASE  18 May  2010  AT 12:45
EET



The Board of Directors of Orion Corporation decided on 18 May 2010 on a share
repurchase based on the authorisation by the Annual General Meeting on 24 March
2010. According to the decision, 300,000 Class B shares of Orion Corporation
will be acquired. The repurchase will be started no sooner than the following
day after the publication of the Interim Report 1-6/2010 of the Orion Group. The
acquisition of the shares will be executed in accordance with the terms of the
authorisation by the AGM.



The shares shall be repurchased using funds in the company's distributable
equity at the price of the acquisition moment quoted in public trade arranged by
NASDAQ OMX Helsinki Oy ("Stock Exchange"), in proportions not corresponding to
the shareholders' holdings. The shares shall be acquired and paid for in
accordance with the rules of the Stock Exchange and Euroclear Finland Ltd.


The shares will be acquired to be used as part of the execution of the long-term
Incentive Plan 2010 for key persons of the Orion Group. There is a weighty
financial reason for the targeted share repurchase, because the purpose of the
incentive plan is to encourage the persons involved in it to sustained
commitment and efforts for the benefit of the company and its shareholders.
The terms and conditions of the authorisation to repurchase the company's own
shares are attached to this release. They were published in the stock exchange
release of 24 March 2010 concerning the decisions of the AGM.



The 2009 Financial Statements documents of Orion Corporation as well as the
Interim Report 1-3/2010 are available on the homepage
www.orion.fi/financialreviews <http://www.orion.fi/financialreviews>, as
provided in the Companies Act.





Orion Corporation





Timo Lappalainen          Olli Huotari

President and CEO       SVP, Corporate Functions





Contact person:

Olli Huotari, Senior VP, Corporate Functions, phone +358 10 426 3054







ATTACHED:

Authorisation concerning the acquisition of the company's own shares





APPENDIX





Authorisation of the Board of Directors to decide on acquisition of the
company's own shares



The Board of Directors of Orion Corporation was authorised by the AGM of 2010 to
decide on the acquisition of the company's own shares on the following terms and
conditions:



Maximum amount of shares to be acquired

On the basis of the authorisation, the Board of Directors shall be entitled to
decide on the acquisition of no more than 300,000 B-shares of Orion Corporation.


Consideration to be paid for the shares

The own shares shall be acquired at the price of the acquisition moment quoted
in public trade arranged by NASDAQ OMX Helsinki Oy ("Stock Exchange"), using
funds in the company's distributable equity.


Targeted acquisition

The own shares shall be acquired in public trade on the Stock Exchange in a
proportion not corresponding to the shareholders' holdings. The shares shall be
acquired and paid for in accordance with the rules of the Stock Exchange and
Euroclear Finland Ltd.

Holding, invalidation and conveyance of the shares

The shares acquired can be kept, invalidated, or further conveyed by the
company.

The shares can be acquired for the purpose of developing the capital structure
of the company, for using them for financing possible corporate acquisitions or
other business arrangements of the company, for financing capital expenditure,
as part of the company's incentive system, or otherwise conveying or
invalidating them.

Other terms and validity
The Board of Directors shall decide on other matters related to the acquisition
of own shares.

The authorisation to acquire own shares shall be valid 18 months from the
decision of the Annual General Meeting of the Shareholders.





Publisher:

Orion Corporation

Communications

Orionintie 1A, FI-02200 Espoo

Homepage: www.orion.fi <http://www.orion.fi/>
Orion is an innovative European R&D-based pharmaceutical and diagnostic company
with a special emphasis on developing medicinal treatments and diagnostic tests
for global markets. Orion develops, manufactures and markets human and
veterinary pharmaceuticals, active pharmaceutical ingredients and diagnostic
tests. Orion's pharmaceutical R&D focuses on the following core therapy areas:
central nervous system drugs, cancer and critical care drugs, and Easyhaler(®)
pulmonary drugs.

The Group's net sales in 2009 amounted to EUR 772 million. The Company invested
EUR 95 million in research and development. At the end of 2009, the Group had a
total of 3,100 employees, of whom 2,500 worked in Finland and 600 in other
European countries. Orion's A and B shares are listed on NASDAQ OMX Helsinki.



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