Year-end Report, January - December 2005

-Net sales amounted to MSEK 62.4 (86.7) -After tax, a net loss of MSEK 43.2 was reported (-16.8) -Earnings per share amounted to a loss of SEK 4.33 (-1.90) Key events during the fourth quarter of 2005 -Orexo listed on Stockholm Stock Exchange O-List and received gross proceeds of MSEK 333. -Orexo signed licensing agreement for RapinylTM (OX 20) for the European market. Key events after the close of the period -Orexo received first payment of MSEK 46.6, in January 2006, for the licensing agreement with ProStrakan Group plc relating to RapinylTM (OX 20) for the European market. For report in full format, see enclosed pdf. Financial hearings You are welcome to follow CEO Zsolt Lavotha´s presentation of the Year-end report at Operaterrassen in Stockholm, today February 23 at 4.00 p.m. You can also follow the presentation over the Internet. Language: Swedish, slideshow in English. For further information, please visit financialhearings.com or orexo.com For more information, please contact: Zsolt Lavotha, CEO, Tel: +46 (0)18-780 88 12, e-mail: zsolt.lavotha@orexo.se Claes Wenthzel, Executive Vice President and CFO, Tel: +46 (0)18-780 88 44, e-mail: claes.wenthzel@orexo.se

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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