UPPSALA, Sweden--(BUSINESS WIRE)--Regulatory News:
In response to recent week´s media attention to companies exposure to brexit and GBP Orexo AB (publ) (STO:ORX) today clarifies that its exposure to the UK and thereby fluctuations in the GBP is very limited. Orexo has no direct income in GBP and has only limited indirect exposure to GBP through the Abstral® partner, Kyowa Kirin’s (former Prostrakan), sales of Abstral in the UK. Royalties from sales of Abstral in the UK amounts to less than 1 percent of Orexo’s annual net revenue and is invoiced by Orexo in euro.
Earlier Orexo has earned one-off Abstral milestone payments in GBP and hence Orexo was historically more exposed to GBP.
Orexo is a specialty pharmaceutical company commercializing its proprietary product Zubsolv® for maintenance treatment of opioid dependence in the US. Zubsolv is an advanced formulation of buprenorphine and naloxone using Orexo’s unique knowledge and expertise in sublingual drug delivery. R&D is focusing on reformulation of known substances to new improved products that meet great unmet medical needs by using its patented proprietary technologies. Orexo’s share is listed on Nasdaq Stockholm Exchange Mid Cap (STO:ORX) and is available as ADRs on OTCQX (ORXOY) in the US. Orexo’s global headquarters and R&D are based in Uppsala, Sweden.
Orexo AB (publ) discloses the information provided herein pursuant to the Financial Instruments Trading Act. The information was submitted for publication at 6:30 a.m. CET on June 21, 2016.
This information was brought to you by Cision http://news.cision.com