Orion - Company Announcement

Orion continues development of inhalable budesonide-formoterol combined formulation

ORION CORPORATION   STOCK EXCHANGE RELEASE   7 FEBRUARY 2012   at  9.35 EET

Orion Corporation is developing a budesonide-formoterol formulation that
combines budesonide as an anti-inflammatory agent and formoterol as a long-
acting bronchodilator to broaden the range of the inhalable Easyhaler(®) drugs
product family. Study results received early in 2012 were promising, but yet
insufficient for submission of an application for marketing authorisation. The
Company will continue development of the product in 2012.

The studies showed that the combined formulation developed by Orion used with
Easyhaler device has consistent dose delivery. However, equivalence with the
reference product, which is required under the guideline of the European
Medicines Agency, was not reached in the studies.

Encouraged by the progress achieved in the research programme, Orion continues
development of the budesonide-formoterol combined formulation as originally
planned and will commence new studies on the product from which conclusions can
be drawn in the first half of 2013.

In addition, Orion has another Easyhaler research programme in progress to
develop a fluticasone-salmeterol combined formulation. In this combined
formulation fluticasone acts as an anti-inflammatory agent and salmeterol acts
as a long-acting bronchodilator.


Orion Corporation




Timo Lappalainen        Olli Huotari
President and CEO      Senior Vice President, Corporate Functions



Contact person:

Reijo Salonen, Senior Vice President, Pharmaceuticals Research and Development,
phone +358 50 966 3647


Publisher:
Orion Corporation
www.orion.fi/en



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, oncology and critical care drugs, and Easyhaler®
pulmonary drugs.

The Group's net sales in 2010 amounted to EUR 850 million. The Company invested
EUR 86 million in research and development. At the end of 2010, the Group had
about 3,100 employees, of whom 2,500 worked in Finland and the rest in other
countries. Orion's A and B shares are listed on NASDAQ OMX Helsinki.






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