Presentation

Company Profile
Orexo is a specialty pharmaceutical company developing improved pharmaceuticals and digital therapies, with focus on the growing space of substance use disorders and mental health. Orexo has a portfolio of five products commercialised in the US by Orexo and through partners worldwide. The main market today is the US market for buprenorphine/naloxone products, where Orexo commercialises its lead product Zubsolv® for treatment of opioid use disorder.

Recent highlights
Orexo´s flagship product, OX124, designed to reverse the effect of overdoses caused by the most powerful synthetic opioids, entered a pivotal trial on 16 July. Net revenues amounted to SEK 142.8 (179.1m) in Q2. EBITDA amounted to SEK -41.1m (-9m), negatively affected by lower Zubsolv sales and the accelerated launch of the digital therapies deprexis® and vorvida®. The therapies are for the treatment of depression symptoms and management of problematic alcohol misuse, respectively.

Outlook
Orexo reiterated its 2021 financial outlook: The buprenorphine/naloxone market is expected to continue to show double-digit growth in 2021; total Opex will increase in 2021 vs 2020, with OX124 driving increased R&D expenses and DTx expenses will increase, but the increase will depend on DTx sales progression and market environment; US Pharma EBIT expected to be around 50%. The launch of Zubsolv in 29 European countries by its partner, Accord Healthcare, is expected to begin in late H2 2021. Results from the pivotal trial with OX124 are expected in Q4 2021.