Orexo Ends Share Buy-back Program
UPPSALA, Sweden, April 6, 2020 /PRNewswire/ -- Orexo AB (publ) has ended the program to repurchase its own ordinary shares that was announced on February 17, 2020. A total of 500,000 shares, equivalent to approximately 1.4 per cent of the issued ordinary shares in the company, have been repurchased as part of the buy-back program at a total purchase sum of SEK 27.2 million.
The purpose of the buy-back program was to promote efficient capital usage in the company and to provide flexibility as regards the company's possibilities to distribute capital to its shareholders. The maximum amount of repurchased ordinary shares under the program has now been reached and the program has thus ended.
Orexo develops improved pharmaceuticals and digital therapies addressing unmet needs mainly within the growing space of addiction. The products are commercialized by Orexo in the US or via partners worldwide. The main market today is the American market for buprenorphine/naloxone products, where Orexo commercializes its lead product Zubsolv® for treatment of opioid use disorder. Total net sales for 2019 amounted to SEK 845 million and the number of employees was 127. Orexo is listed on the Nasdaq Stockholm Mid Cap (ORX) and is available as ADRs on OTCQX (ORXOY) in the US. The company is headquartered in Uppsala, Sweden, where research and development activities are performed.
For more information about Orexo please visit, www.orexo.com . You can also follow Orexo on Twitter, @orexoabpubl, LinkedIn and YouTube.
This information is information that Orexo AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8.00 am CET on April 6, 2020.
For further information, please contact
Orexo AB (publ.)
Nikolaj Sørensen, President and CEO
IR and Communications Manager
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