Orexo AB focuses its business and reduces costs
Uppsala, Sweden - March 6, 2012 - Orexo AB is focusing its development activities to the three proprietary programs OX219, OX51 and OX27. The total requirement for resources will thereby be reduced with up to 35 full time employees.The personnel reduction, which will have full effect in 2013, is expected to lower the costs by a total of SEK 30 million annually. Negotiations with trade union representatives will commence immediately. The reduction in personnel is expected to be completed during the second quarter of 2012."The focus of our business activities will now be fully in line