Strong quarter marked by accelerating growth and improved profitability

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We have once again delivered a very strong quarter.

Published on 17 July 2026

"In April–June 2026, our net sales increased by 25.2 percent to EUR 521.6 (416.5) million and operating profit increased by 68.8 percent to EUR 176.6 (104.6) million.

We have once again delivered a very strong quarter. Innovative Medicines continued to serve as the main growth driver, while net sales in the Branded Products division also grew strongly. Profitability improved largely as a result of higher Nubeqa® royalty income. The increase in operating expenses was in line with our expectations. The more pronounced increase in research and development expenses reflects the expansion and progress of projects across the pipeline.

News flow during the review period was dominated by our clinical-stage asset ODM-212. We initiated a Phase 1b/2 study of the compound, TEADCO, in combination with standard-of-care therapies in patients with certain advanced solid tumours. At the American Society of Clinical Oncology (ASCO®) Annual Meeting, we presented Phase 1 results from the TEADES study, which evaluated the safety, tolerability, and preliminary efficacy of ODM-212 in patients with various solid tumours. The results were encouraging and formed the basis for the initiation of the Phase 2 of the study at the end of last year.

In addition, ODM-212 received Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for the treatment of mesothelioma, as well as Orphan Designation from the European Commission for the treatment of malignant mesothelioma.

We also received positive news in our Animal Health business, as the FDA approved Tessie®, an Orion-developed product for the treatment of noise aversion and separation anxiety in dogs. We expect our partner to begin commercial sales in the United States in mid-2027.

Following the strong quarter and our expectation that the positive momentum will continue, we have specified our 2026 outlook by narrowing the net sales and operating profit ranges from the lower end. With regard to our pipeline, we expect to advance at least one of our biological drug candidates into clinical development later this year and for our partner to report results from the LEVEL study.”