contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Economist

Marianne Palmu

Analyst

Kaisa Vanha-Perttula

Orion operates in the pharmaceutical industry. The company conducts research and development of human and veterinary drugs, where the main focus is on diseases that affect the nervous system, as well as oncology and respiratory diseases. Today, the company's products are found on a global level, with the largest presence in the Nordic region and the rest of Europe. The company's head office is located in Espoo, Finland.

And then potentially destroy Orion’s shareholder value in the process. As an Orion shareholder (I don’t own Faron), I do not support such a scenario at all. Deals can be made for interesting drug candidates, if there is potential. On the other hand, if Faron’s performance continues at this level, those assets could be acquired cheaply at some point—if there would even be any sense in that. And if Faron stays afloat, those who believe in it can certainly continue funding it as an independent company. Drug development is arduous and risky; I trust Orion’s experience in this.

Considering the precarious situation Faron has found itself in, perhaps the possibility of merging it with Orion should be seriously explored. Although Orion might not yet be considered a true Big Pharma (BP) company, a merger with Faron would not be an overwhelming risk for it. Perhaps a couple of million B-shares would be needed for a share swap, which is only just under 1.5 percent of Orion’s share capital, so it would likely hardly weigh on the stock price. It might even raise it. Orion would get more, at least somewhat promising, new candidates for its research pipeline. The EU would probably take an encouraging view of such a solution, and it would also be an interesting step for the development of the Finnish pharmaceutical industry.

Here are Antti’s comments on an unsurprising Q4  Orion’s Q4 report and the full financial year were strong, even though the end of the year fell slightly short of market expectations. The quarter was characterized by a 180 MEUR milestone payment, adjusted for which the result improved by 59%. The report offered no major surprises or news, and forecast changes remain minimal. The dividend proposal of 1.80 euros (2024: 1.64) met our expectations, and the strong outlook for 2026 was already known before the report. We reiterate our target price of 75 euros and our Accumulate recommendation.                   Inderes              Orion Q4'25: Yllätyksetön lopetus vahvan kasvun vuodelle - Inderes    Orionin Q4-raportti ja koko tilikausi olivat vahvoja, vaikka loppuvuosi jäikin hieman markkinan odotuksista.

Verneri Pulkkinen interviewed Orion’s CEO Liisa Hurme about how the company is doing.                    Inderes              Orion Q4’25: Hyvin menee - Inderes    Aika: 12.02.2026 klo 17.20 Orionilla menee hyvin. Myynti paisuu Nubeqa kärjessä laajalla rintamalla.                             Topics: 00:00 Q4 01:00 Proprietary products 03:20 Easyhaler 04:00 Nubeqa 04:40 Expenses 05:50 China 07:08 Dividend 08:15 Guidance 2026

And here is the result itself:            cdn.prod.nntech.io              report.pdf    1872.33 KB                            Highlights: October-December 2025: Net sales totalled EUR 695.3 (October–December 2024: 434.4) million • Operating profit was EUR 328.1 (92.7) million • Basic earnings per share were EUR 1.85 (0.52) • Cash flow from operating activities per share was EUR 0.58 (0.63) • The outlook for 2026 (provided on 14 January 2026): Net sales are estimated to be EUR 1,900 million to EUR 2,100 million. Operating profit is estimated to be EUR 550 million to EUR 750 million. January–December 2025 Highlights • Net sales totalled EUR 1,889.5 (January–December 2024: 1,542.4) million • Operating profit was EUR 631.6 (416.6) million • Basic earnings per share were EUR 3.56 (2.35) • Cash flow from operating activities per share was EUR 2.25 (2.09) • The Board of Directors proposes a dividend of EUR 1.80 (1.64) to be paid for 2025. The dividend is proposed to be paid in two instalments.

Here are Antti’s preview comments as Orion reports its Q4 results on Thursday.  We expect a very strong finish to 2025 for Orion, driven particularly by the excellent sales performance of the prostate cancer drug Nubeqa. The company already provided preliminary information on the 2026 outlook in January, which suggests that Nubeqa’s success story will continue into the current year.                   Inderes              Orion Q4'25 -ennakko: rojaltit ja etappimaksu toivat nostetta loppuvuoteen -...    Vahvaa neljännestä ajaa Nubeqan kasvava myynti ja 180 MEUR:n etappimaksu.

Posting this here as well: @Marianne_Palmu and @Kaisa_Vanha-Perttula added Orion to the Femme Portfolio.                    Inderes              Femmesalkku: Orionin tie tähtiin - Inderes    Avasimme tänään uuden position suomalaisessa lääkejätissä, kun ostimme Orionia 15 %:n painolla Femmesalkkuun.

Orion

Vi öppnade idag en ny position i den finska läkemedelsjätten, då vi köpte Orion med en vikt på 15 % till Femmesalkku.


<p><em>Automatisk &#xf6;vers&#xe4;ttning: Ursprungligen publicerad p&#xe5; finska 2026-01-28 12:12 GMT. Ge feedback <a href="https://forum.inderes.com/t/inderes-fi-sisallon-kehitysideat/71/?tl=sv">h&#xe4;r</a>.</em></p><p>Vi &#xf6;ppnade en ny position i den finska l&#xe4;kemedelsj&#xe4;tten n&#xe4;r vi k&#xf6;pte Orion med en vikt p&#xe5; 15 % till Femmesalkku. Orion &#xe4;r p&#xe5; v&#xe4;g mot stj&#xe4;rnorna, drivet av Nubeqa som utvecklats f&#xf6;r behandling av prostatacancer. Aktiens v&#xe4;rdering st&#xf6;ds s&#xe4;rskilt av Nubeqas nyligen st&#xe4;rkta l&#xe5;ngsiktiga vinsttillv&#xe4;xtutsikter samt en direktavkastning p&#xe5; 2,4 %. V&#xe4;rderingen kan visserligen inte anses vara billig, men Nubeqas utveckling har &#xf6;verraskat upprepade g&#xe5;nger och toppen f&#xf6;r f&#xf6;rs&#xe4;ljningen kan fortfarande &#xf6;verraska med sin h&#xf6;jd vid decennieskiftet.</p>
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<p><em>Femmesalkku grundades med ett startkapital p&#xe5; 20 000 EUR v&#xe5;ren 2025. V&#xe5;r portf&#xf6;lj st&#xf6;ds av h&#xf6;gkvalitativa inhemska och utl&#xe4;ndska f&#xf6;retag och fonder som har h&#xe5;llbara konkurrensf&#xf6;rdelar och skapar aktie&#xe4;garv&#xe4;rde, vilket tillsammans m&#xf6;jligg&#xf6;r &#xf6;nskad diversifiering p&#xe5; l&#xe5;ng sikt.</em></p>
</div>
</div>
</div>

	2024	25e	26e
Revenue	1,542.4	1,912.8	1,919.7
growth-%	29.7 %	24.0 %	0.4 %
EBIT (adj.)	416.5	639.4	639.9
EBIT-% (adj.)	27.0 %	33.4 %	33.3 %
EPS (adj.)	2.35	3.59	3.62
Dividend	1.65	1.70	1.75
Dividend %	3.6 %	2.5 %	2.6 %
P/E (adj.)	19.5	19.1	19.0
EV/EBITDA	10.4	13.8	13.3

Femmesalkku: Orions väg till stjärnorna

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