Orion receives award for international growth from the President of the Republic of Finland

Today, on November 14, 2025, the President of the Republic of Finland, Alexander Stubb, has awarded Orion Pharma the Internationalisation Award of the President in the growth companies category. 

The award underscores Orion’s unique role in the global pharmaceutical industry.

“This is a great honour and recognition of the work that all of us Orionees have been doing together for decades to grow our company and to help more patients across the globe”, says Liisa Hurme, President and CEO of Orion Corporation.

Growth strategy already making an impact globally

A local presence in markets around the world is driving Orion’s new product launches and research collaborations. Successful products have created opportunities for further growth.

International expansion has been rapid, with a sales office established in Japan, a research centre in the UK, and strengthened operations in the United States. Orion’s strategy, which was launched a few years ago, is already making an impact globally.  

“Orion has been an international company for decades, but it is now aiming for a stronger foothold and growth, particularly in major markets,” says President and CEO of Orion Corporation Liisa Hurme.

At the same time, Orion has increased the number of projects in its R&D portfolio. “Over time, in-house research will be the main source of growth,” Hurme adds.

Establishing a strong presence in Japan and the United States

Southeast Asia is an important growth region for Orion. In the summer of 2024, the company established a subsidiary in Japan, through which it markets a medicine for Parkinson’s disease containing levodopa, carbidopa and entacapone, as well as hormone replacement products. “We have taken ownership of our products from our partners, and their sales have developed well. We are also continually working to expand this portfolio.”

Hurme says that the aim is to grow Orion’s own operations in Japan in a way that enables new types of growth in the region. To launch a new medicine in Japan, it must be tested on the local population. “Our goal is to conduct clinical trials there in the future using our own molecules.”    

Orion has also strengthened its operations in New York. “There, we are focusing on designing and launching clinical trials and on working with the FDA and key decision-makers. The intention is to grow operations in a controlled manner.”

The United States is the world's largest pharmaceutical market, and it involves a variety of pressures. Media attention has recently been focused on trade-related tariffs, but another major factor is what is known as the Most-Favored-Nation pricing policy, which particularly affects the pharmaceutical sector. “The US is no longer willing to pay two to four times more than European countries for new patented and generic medicines. As a result, initiatives are being developed to control medicine pricing going forward, which could also have implications for Europe,” says Hurme. 

According to Hurme, the operating environment for the US pharmaceutical market is currently strongly influenced by pressures on research and regulatory authorities, such as staffing reductions at the US Food and Drug Administration (FDA).

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Orion has been an international company for decades, but it is now aiming for a stronger foothold and growth, particularly in major markets.

In-house research now bearing fruit

Darolutamide, a treatment for prostate cancer, is currently Orion’s most profitable product. “It has performed better than we initially expected, which of course reflects how the medicine works,” Hurme explains.

Another significant molecule developed by Orion in recent years is opevesostat. “It has been fully licensed to the US pharmaceutical company MSD. They are conducting two global Phase III trials on metastatic castration-resistant prostate cancer, and last spring, we received the exciting news that MSD had expanded its trials to women’s hormone-related cancers, which are now in Phase II.” 

The revenue from a fully licensed molecule will be structured according to the terms of the agreement. When MSD generates sales revenues from opevesostat, Orion will receive royalties. Orion will also have the potential to earn milestone payments linked to research, regulatory approval and sales. 

Development of biologics on its own path

In spring 2025, Orion opened a new research and development unit in Cambridge, UK, which is focused on biological medicines. “Our aim is to bring biologics into our clinical development pipeline at Phase I within the next 12–24 months, with a particular focus on cancer treatments,” Hurme explains.

Cambridge was chosen as the base for biologics development because of its concentration of industry companies and professionals trained in the field. “The city offers the critical mass we need. Finland does not yet have sufficient expertise to develop biological medicines, as the process is very different from that for small molecules.”

A biologic must have a final pharmaceutical product ready by the time the first human trial begins. “With more traditional, small-molecule medicines, it has been possible to refine formulations along the way. With biologics, cell lines must be ready for industrial production by the time we are ready to enter Phase I. As a result, costs and risks are concentrated at different stages of the development process,” Hurme explains.

Pharmaceutical industry at the core of supply security

Orion plays an important role in safeguarding Finland’s security of supply. Hurme explains that this carries significant responsibility. “Orion is the only company in Finland producing all types of medicines and pharmaceutical forms. We regularly practise our operations in situations such as cyber threats as a precautionary measure. We take this responsibility very seriously.” 

Crises around the world often create major challenges in the availability of medicines for chronic diseases. “One important lesson has been that acute needs are only part of the picture, and crises tend to persist.”

Orion is supporting the establishment of a professorship in security of supply at the University of Helsinki. Hurme sees the initiative as an opportunity to strengthen shared expertise. “Medicines are at the core of security of supply. It is important for us to share our experience with the university while also engaging in dialogue across different sectors.” 

Orion team in the picture, from left: Anu Moilanen, Olli Törmäkangas, Outi Vaarala, Liisa Hurme, Hao Pan, Satu Ahomäki, Juhani Kankaanpää