Orexo unveils new strategy
Orexo AB (SSE:ORX) announced that it intends to develop and commercialize its own products rather than out-license them to international partners. As part of the strategy, Orexo is searching for a new CEO with broad international commercial experience to replace Torbjorn Bjerke, who will remain until a successor is found. Orexo also plans to build or acquire an internal sales organization to market its products.
Orexo will focus development on three internal programs using its sublingual tablet formulation technologies. The most advanced product is OX219, a reformulation of buprenorphine and naloxone in Phase I testing to treat opioid addiction. Data are expected next quarter. Further development of other unpartnered programs will be discontinued. ...