Pharma profits well down at Orion
Finland's Orion Group has posted net sales of 231 million euros ($205.6million) for the first quarter of 2001, down 2.5% on the like, year-earlier period, with profit before extraordinary items and taxes declining 49.5% to 17.7 million euros. Operating profit for Orion Pharma collapsed to 5 million euros from 23.1 million euros and sales fell 3.6% to 106.8 million euros, which the company said was principally due to weaker-than-expected international sales.
Orion said that it invested heavily in promoting Comtess/Comtan (entacapone) for Parkinson's disease, which had first-quarter revenues of 5.7 million euros (+38.9%) and the launch of Simdax (levosimendan) for acute decompensated heart failure. However, the latter's application has been withdrawn in seven major European states (Marketletter April 23).
Fareston selling well in Japan
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