Year-end Report, January - December 2006

Orexo 2006 – a year with improved financial results, without compromising investments for the future

“During 2006, we took a major stride toward registration of the Rapinyl™ pain product on the European market, we are preparing the completion of the Phase III program for the Sublinox™ (OX 22) insomnia product and OX 17, a product for treating GERD, we started a cooperation for the development of a new technology platform and we strengthened the organization further to be able to manage the company’s rapid growth,” says Zsolt Lavotha, President and CEO, Orexo AB. “We have a continuing aggressive development plan and our assessment is that we have laid the foundation for strong development in 2007.”

The year in brief
• Net sales increased to MSEK 132.0 (62.4)
• The loss after tax was MSEK 33.0 (loss: 43.2)
• Earnings per share amounted to a loss of SEK 2.46 (loss: 4.33)
• Filed registration application for the European market for the pain product Rapinyl™
• Application (IND) for conducting clinical study in the US on the insomnia product Sublinox™ (OX 22), submitted to FDA
• Signed distribution agreement for the pain product Rapinyl™ – licensing agreements previously signed for the North American, European and Japanese markets
• Initiated collaboration on a new technology platform for new products
• Completed an acquisition– strengthens position in stomach-ulcer diagnosis

Fourth quarter 2006
• Orexo received license revenues of MUSD 5.2 MUSD (approximately MSEK 38) from Endo Pharmaceuticals Inc. for Rapinyl™
• A collaboration with the medical technology company Doxa was initiated with the objective of developing innovative new pharmaceuticals based on a unique drug-delivery technology
• A distribution agreement for Rapinyl™ in Eastern Europe was signed with the Hungarian pharmaceutical company Gedeon Richter Ltd
• An application to conduct clinical study (IND) in the US was submitted to the FDA for completion of the Phase III program for the insomnia product Sublinox™ (OX 22)


For report in full format, see enclosed link to pdf.

For more information, please contact:
Zsolt Lavotha, President & 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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