Beyond economic repair?!
That's strange... Looks like all it needs is a new crown and stem to me. That shouldn't cost more than £50-60 and the watch has to be worth more than that!
A new stem may be all you need if the crown isn't damaged but I'd guess that it is. You will struggle to get an Oris crown as they will only usually sell to authorised repairers.
The movement is a 2824 so the stem would be easy to get from Cousins or similar. Not sure why your friend doesn't just send it to Oris though, I'm positive it's not an expensive job.
HTH.
Luke