Advertisement

Highl Successful LC/MS Niche Player Is Looking for a Junior Partner 600x60px
Document › Details

Orexo AB. (3/6/12). "Press Release: Orexo AB Focuses Its Business and Reduces Costs". Uppsala.

Organisation Organisation Orexo AB (OMX Nordic List, Mid Cap: ORX)
  Group Orexo (Group)
Products Product OX219
  Product 2 OX51
Person Person Lundström, Anders (Orexo 201102– CEO before Biogen Idec + AstraZeneca + Janssen-Cilag + BMS)
     


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 with Orexo's strategy and we shall exclusively invest in further development and commercialization of our proprietary products. This means that we are directing all our resources towards our key later stage development programs," says CEO Anders Lundström.

The three programs, OX219, OX51 and OX27 are based on proprietary drug delivery technologies applied to well-known substances with licensed uses. This results in programs with significantly lower development risk, lower cost and shorter development time than traditional drug development programs. This approach was used to successfully develop Orexo's pain product Abstral® and the insomnia product Edluar™.

Orexo has today 110 employees, of which approximately 80 work in research and development.

For further information, please contact:
Anders Lundström, CEO
Phone: +46 70-667 22 66
E-mail: anders.lundstrom@orexo.com


About Orexo

Orexo develops and markets pharmaceuticals based on proprietary drug delivery technologies applied to well-known substances. The company's largest product is Abstral, a treatment of breakthrough cancer pain. Orexo's shares are listed on the Stockholm Stock Exchange and Danish Novo A/S and Swedish HealthCap are the largest shareholders. More information can be found at www.orexo.com

Note: This is information that Orexo AB (publ) discloses pursuant to the Financial Instruments Trading Act and/or Securities Market Act. The information was provided for public release on March 6, 2012 at 11:00 CET. This press release has been prepared in both Swedish and English. In the event of any discrepancy in the content of the two versions, the Swedish version shall take precedence.

   
Record changed: 2012-03-12

Advertisement

Erfolgreicher Nischenanbieter im LC/MS-Markt sucht Junior-Partner 600x60px

More documents for Orexo (Group)


To subscribe to our free, monthly newsletter for the European life sciences, please send an e-mail to info@iito.de and simply fill the subject line with the word »LSE newsletter«

To get even more information, please take a look at our [gs] professional services offering and read the gene-sensor Product Flyer [PDF file]

Please visit also our web portals for the life sciences in German-speaking Europe (DE, AT & CH) and the worldwide mass spectrometry industry at Life-Sciences-Germany.com (life sciences in German-speaking Europe) and Mass-Spec-Capital.com (worldwide mass spectrometry)

Advertisement

Banner EBD Group BIO Europe 2014 BEU Frankfurt November 600x60px




» top

Advertisements

Banner Vego Ltd Ecochem Conference 2014 Basel 120x120px Banner BIO Deutschland European Business Development Conference 120x240px Banner EBD Group BIO Europe 2013 BEU Frankfurt November 120x120px Banner LSBC Central European Life Science Investment Conference 2014 120x180px Highl Successful LC/MS Niche Player Is Looking for a Junior Partner 120x240px Banner LMT Company PharmProm 2014 Kiev Ukraine October 120x180px The Events Group Pharm Connect Congress 2015 Budapest February 120x180px Banner Fairtec GmbH Solutions for Smarter Business Events Exhibitions 120x120px Banner [iito] Twitter iitoLifeScience Life Sciences Mass Spec 120x120px