ANNOUNCEMENT 18 Jan 2019

In January 2019, the European Investment Bank (EIB) signed a loan agreement with Orion Oyj to support its 2018-2020 investments concerning clinical and regulatory developments of the company's products. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, ORION CORE THERAPEUTIC RDI: https://www.eib.org/en/projects/loan/loan/20180275
The European Investment Bank, Project summary, ORION CORE THERAPEUTIC RDI: https://www.eib.org/en/projects/pipelines/pipeline/20180275
The European Investment Bank, press release of 24 January 2019, EIB to lend EUR 100m to Orion for pharmaceutical research and development: https://www.eib.org/en/infocentre/press/releases/all/2019/2019-021-eib-to-lend-eur-100m-to-orion-for-pharmaceutical-research-and-development.htm
Orion Oyj: https://www.orion.fi/en/Orion-group/about-orion/

Inception date: 18 Jan 2019 | Removal date: open ended

State loan

The loan agreement between the European Investment Bank (EIB) and Orion Oyj was signed on 18 January 2019 and has a total value of EUR 100 million (approx. USD 113.6 million).

The loan will support the company's 2018-2020 investments in its core therapeutic areas concerning clinical and regulatory developments of the company's products. 

In this context, the EIB Vice-President Alexander Stubb stated: "The EIB used to be known as an infrastructure bank, but in recent years it has made an important shift towards supporting innovative companies, and very noticeably so in Finland. The project will boost the innovation capacity of a European life science business and help to preserve relevant sectoral know-how in Europe."

Orion Oyj is a global pharmaceutical company developing, manufacturing and selling "human and veterinary pharmaceuticals and active pharmaceutical ingredients". The company's products consist of almost 400 products. According to the company: "The core therapy areas of Orion's pharmaceutical R&D are central nervous system (CNS) disorders, oncology and respiratory diseases for which Orion develops inhaled Easyhaler® pulmonary drugs." The company has its headquarters in Finland with offices in a number of countries around the world. 

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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