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Orion raises outlook after Merck deal on developing prostate cancer drug

(Reuters) - Finnish drug maker Orion on Wednesday raised its full year outlook after it signed a collaboration agreement with Merck aimed at developing a prostate cancer drug candidate.

Given the upfront payment of $290 million Orion is to receive from Merck, the Finnish company now expects sales and operating profit in 2022 to be "clearly higher" than in 2021.

(Reporting by Boleslaw Lasocki; editing by Jason Neely)

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