Orion falls as it ends painkiller development program

Orion Oyj

25/10/2024 13:41

** Shares in Orion  ORNBV.HE  fall more than 4.5% after the
Finnish drugmaker said on Thursday night it would stop the
development project of ODM-111 painkiller
    ** Orion says findings did not support long-term use nor
progression to later-stage development
    ** Inderes analyst Antti Siltanen writes the termination was
a surprise as Orion had spoken about continuing development 
    ** He adds the setback would not be huge as Orion has two
other drugs in development that have more potential to create
value and growth, prostate cancer drugs Nubeqa and OMD-208
    ** Shares track their worst day since February if losses
hold

 (Reporting by Essi Lehto)
 ((Essi.lehto@thomsonreuters.com))