Orion Corporation and CuraTeQ Biologics expand their biosimilar distribution agreement in Europe
Orion Corporation and CuraTeQ Biologics expand their biosimilar distribution agreement in Europe
Orion Corporation (“Orion”) and CuraTeQ Biologics Private Limited (“CuraTeQ”), a wholly-owned subsidiary of Aurobindo Pharma Ltd., have expanded their biosimilar distribution agreement to the Baltic countries. The original marketing and distribution agreement signed in 2020 covered the Nordics, Austria, Hungary and Slovenia.
Under the agreement, Orion will have the right to sell and market CuraTeQ’s biosimilars in the Nordics, the Baltics, Austria, Hungary and Slovenia. All the products under the agreement are still in development or regulatory phases and the launches in Orion territories are estimated to take place in 2023–2026 depending on the success of the development and regulatory approvals.
Virve Laitinen, SVP Specialty Products of Orion Corporation said: “We are pleased to further expand our long-term collaboration with Aurobindo and CuraTeQ. Overall this agreement will strengthen Orion’s position as one of the leading generics providers in the Nordics and Baltics as we can make these cost-effective treatments available for healthcare professionals and patients.”
Satakarni Makkapati, CEO of CuraTeQ Biologics said “Orion has a demonstrated and proven track record of successfully commercialising biosimilars in the Nordics and Baltic countries. Orion’s understanding of the biosimilars adoption along with extensive commercial infrastructure in the Nordics and other territories in the EEA make it an ideal partner to expand the accessibility of our biosimilar products in selected markets of Europe, complementing our group’s wide footprint in other European markets.”
About Orion
Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are neurological disorders, oncology and respiratory diseases for which Orion develops inhaled pulmonary medication. Orion's net sales in 2020 amounted to EUR 1,078 million and the company had about 3,300 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.
About Aurobindo Pharma Limited
Aurobindo Pharma Limited is an integrated global pharmaceutical company headquartered in Hyderabad, India. The Company develops, manufactures, and commercializes a wide range of generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients globally in over 155 countries.
The company has 27 manufacturing and packaging facilities that are approved by leading regulatory agencies including USFDA, UK MHRA, EDQM, Japan PMDA, WHO, Health Canada, South Africa MCC, Brazil ANVISA. The company’s robust product portfolio is spread over 7 major therapeutic/product areas encompassing CNS, Anti-Retroviral, CVS, Antibiotics, Gastroenterological, Anti-Diabetics and Anti-Allergic, supported by a strong R&D set-up.
Contact person:
Tuukka Hirvonen, Investor Relations, Orion Corporation
Tel. +358 10 426 2721
tuukka.hirvonen@orion.fi
Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
www.orion.fi
