Finnish Pharma Company Orion Pharma Ends Operations in Russia

Orion Pharma, a Finnish pharmaceutical company, has announced its exit from the Russian market after 15 years of operations. The decision was revealed in the company's report for the first half of 2023, citing a 33.5% year-on-year decline in operating profit, amounting to 102 million euros. The report attributed this decrease to several factors, including one-time events such as the cessation of operations in Russia.

The exit from Russia resulted in a reduction of the manufacturer's profits by 25 million euros in the January-June period of 2023 compared to the same period last year.

The company had previously disclosed its plan to close its Russian office by the end of 2022, as reported by Vedomosti in October.