Orexo Pharmaceuticals elects Håkan Åström as new Chairman of the Board

Orexo Pharmaceuticals elects Håkan Åström as new Chairman of the Board Orexo AB in Uppsala today announces the election of Zsolt Lavotha, Kjell Strandberg and Håkan Åström as new members of the Board of Directors. The elections were made at Orexo's extra shareholders meeting on December 11. Håkan Åström was appointed new Chairman of the Board at the subsequent board meeting on December 12. "The new board members brings significant pharmaceutical business experience to the company. We look forward to working with this team to develop Orexo into a successful pharmaceutical company in our niche ", said Thomas Lundqvist, CEO of Orexo AB. Thomas Lundqvist, Tomas Matsson, and Tomas Nygren resigned as Directors of the Board. The new Board Members Håkan Åström, well known in the international pharmaceutical industry, brings over 30 years of experience from various executive strategic and operational positions with Baxter, Astra and Pharmacia. Senior Vice President with Pharmacia Corporation 1995 - 2003. Other board member assignments: Biovitrum AB and Scandinavian Life Science Venture AB. Zsolt Lavotha brings 30 years of experience from the pharmaceutical field. Until recently, he held the position as President and CEO of Lavipharm Corp, USA. He has worked for several multinational pharmaceutical companies among others Pfizer and Wyeth, where he held senior positions, Chief Executive for Europe, Africa and Middle East. He also serves on the board in several biotechnology companies in Europe as well as the US. Kjell Strandberg, M.D., Ph.D. in Pharmacology, Professor in Pharmacotherapeutics, previously Director General of Swedish Medical Products Agency. Other board assignments: Board member of the Swedish Institute for Health Economics, and the National Strategic Foundation for Research in Pharmacy and Clinical Pharmacology, Chairman of the Regulatory Advisory Board of NDA - an international consultancy on regulatory affairs, among others. ___________________________________________________________________ For more information, please contact Thomas Lundqvist, CEO Orexo AB +46 (0)18 780 88 00, +46 (0)70 531 83 41, e-mail: thomas.lundqvist@orexo.se Orexo AB (publ) is a Swedish pharmaceutical company established in 1995 based in Uppsala. Orexo develops, documents and registers patented pharmaceutical products based on innovative and proprietary drug formulations. This is carried out through in-house development, licensing or co-development with partners. www.orexo.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/12/15/20040622BIT20210/wkr0001.pdf

About Us

Orexo develops improved pharmaceuticals based on innovative drug delivery technologies.The focus is primarily on opioid dependence and pain but the aim is to address therapeutic areas where our competence and technologies can create value. The main market today is the US market for the treatment of opioid dependence where the product Zubsolv® is commercialized by Orexo. Other products are commercialized by license partners, including Zubsolv in markets outside of the US. Total net sales for 2016 amounted to SEK 705.9 million and the number of employees was 102. Orexo is listed on the Nasdaq Stockholm Mid Cap (ORX) index and is available as ADRs on OTCQX (ORXOY) in the US. The head office, where also research and development is performed, is located in Uppsala, Sweden.

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