Orexo publishes the Annual and Sustainability Report for 2023

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Orexo's Annual and Sustainability Report for 2023 highlights the company's progress in opioid dependence treatment, financial performance recovery, and sustainability efforts. The NDA filing of OX124 for opioid overdose rescue and plans for EBITDA profitability in 2024 show promising developments. Orexo's commitment to sustainability is evident through support for UN Global Compact principles, social financing initiatives, and a new social bond issuance.

UPPSALA, Sweden, March 28, 2024 /PRNewswire/ -- Orexo's Annual and Sustainability Report for 2023 has been published and can be downloaded at, www.orexo.com. The Swedish version of the Report is also available on the company's website in European Single Electronic Format (ESEF). A PDF version is attached to this press release.

Nikolaj Sørensen, President and CEO, said: "In 2023, we continued our path to make a difference for patients with opioid dependence. I am particularly pleased with the NDA filing of OX124, a high-dose rescue medication for opioid overdose. In addition, we saw a recovery in our financial performance. It encourages us to aim for returning to EBITDA profitability already in 2024. Standing on a stronger financial ground gives us a tailwind as we are approaching the US launch for OX124 and for our world-class drug delivery platform AmorphOX® to reach its full potential."

Since 2017, Orexo has been supporting the UN Global Compact's principles and goals for a sustainable development for people and societies. Orexo's ambitious sustainability work, together with the efforts fighting the US opioid epidemic, recently shaped a new social financing framework for the company, including the issue of a new social bond on March 13, 2024. The new bond ensures the refinancing of the outstanding bond.

An in-depth narrative of Orexo's sustainability work is provided on pages 34-50 in the Annual and Sustainability Report.

For further information, please contact:

Orexo AB (publ.)

Lena Wange, IR & Communications Director
Tel: +46 18 780 88 00
e-mail: ir@orexo.com

About Orexo

Orexo is a Swedish pharmaceutical company with over 25 years of experience developing improved pharmaceuticals based on proprietary formulation technologies that meet large medical needs. On the US market, Orexo provides innovative treatment solutions for patients suffering from opioid use disorder and adjacent diseases. Products targeting other therapeutic areas are developed and commercialized worldwide with leading partners. Total net sales in 2023 amounted to SEK 639 million, and the number of employees to 116. Orexo is listed on Nasdaq Stockholm's main list and is available as an ADR on OTCQX (ORXOY) in the US.

For more information about Orexo please visit, www.orexo.com. You can also follow Orexo on X, LinkedIn, and YouTube.

This information is information that Orexo AB (publ.) is obliged to make public in accordance with the Securities Market Act. The information was submitted for publication at 8 am CET on March 28, 2024. 

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Orexo Annual and Sustainability Report 2023

 

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SOURCE Orexo

FAQ

What is Orexo's Annual and Sustainability Report for 2023 about?

Orexo's Annual and Sustainability Report for 2023 highlights the company's progress in opioid dependence treatment, financial performance recovery, and sustainability efforts.

What is OX124 mentioned in the PR?

OX124 is a high-dose rescue medication for opioid overdose mentioned in the PR.

What financial goal does Orexo aim for in 2024?

Orexo aims to return to EBITDA profitability in 2024, as stated by Nikolaj Sørensen, President and CEO.

What is Orexo's sustainability commitment?

Orexo has been supporting the UN Global Compact's principles and goals for sustainable development since 2017, and recently issued a new social bond to refinance outstanding debt.

Who is the IR & Communications Director at Orexo AB?

Lena Wange is the IR & Communications Director at Orexo AB.