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Orexo AB (publ) is a Swedish pharmaceutical company that has been operating for over 25 years with a focus on developing improved pharmaceuticals based on proprietary formulation technologies. The company offers innovative treatment solutions for patients with opioid use disorder and related diseases in the US market and collaborates with partners globally for products targeting various therapeutic areas. With total net sales amounting to SEK 639 million in 2023, Orexo is committed to providing high-quality pharmaceutical solutions to meet significant medical needs. The company's recent accomplishments include the extension of patent protection for its nasal epinephrine powder product, OX640, and the successful issuance of senior secured social bonds.
Orexo's Q1 2024 interim report shows positive EBITDA growth, with total net revenues of SEK 139.3 million. The company reported a net earnings improvement, with key data on clinical studies and product stability. Orexo also secured a social bond for refinancing and obtained a new patent. CEO highlights financial stability and R&D progress, aiming for product launch in late 2024 or early 2025.
Orexo AB held its annual general meeting on April 26, 2024, where key decisions were made regarding the board of directors, auditor fees, nomination committee, financial statements, share issuance, share repurchase, and the adoption of long-term incentive programs. James Noble was elected as the chairman of the board, and Ernst & Young Aktiebolag was re-elected as the auditor. The meeting also approved the income statement and balance sheets for the financial year 2023, with no dividend declared for that year. The board was discharged from liability for the same year. Additionally, the board was authorized to issue new shares and repurchase and transfer existing shares, with specific limits and purposes outlined. Two long-term incentive programs, LTIP 2024 and LTIP Stay-on 2024, were adopted for selected employees within the Orexo group.
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