Finnish pharmaceutical company Orion Oyj (HEL:ORNBV) on Wednesday reported profit before taxes of EUR287m, or diluted EPS of EUR1.61, for 2017.

This was a 7.9% decline over profit before taxes of EUR311m, or a 9.2% decline over diluted EPS of EUR1.77, in 2016.

Net sales in 2017 totalled EUR1,085m, up by 1% as compared with EUR1,074m in 2016.

In addition, the company's board of directors has proposed payment of a dividend of EUR1.45 per share, (2016: EUR 1.55 This compares with EUR1.55, including centenary year extra EUR0.20 special dividend, in 2016.

Also, the company reaffirmed that financial objectives remain unchanged. Orion estimates that in 2018 net sales will be at the same level or slightly lower than in 2017 and operating profit excluding material capital gains will be lower than in 2017.

Orion is a developer and manufacturer of pharmaceuticals and diagnostic kits. The company produces hormone therapies and drugs to treat central nervous system disorders, cardiovascular diseases and urological disorders, as well as in vitro diagnostic kits used in doctor's offices and small laboratories.