SwedenSweden

30% headcount reduction - Orexo restructures

08.03.2012

Stockholm – Swedish drug delivery specialist Orexo AB has announced the intention to cut its headcount by 30% in order to reduce the company's burn rate. The personnel reduction by 35 people is expected to lower the costs by a total of SEK30 million annually. Negotiations with trade union representatives will commence immediately. The reduction in personnel is expected to be completed during the second quarter of 2012. The company will focus all of its efforts on the three development programmes OX219, OX51 and OX27. The two last are fast-acting sublingual non-specified formulations of existing treatments in phase II to treat pain or cancer respectively. OX219 is a new, patentable drug in phase III for the treatment of various forms of opioid dependence. The active substance in OX219 isbuprenorphine. Orexo has already brought the fast-acting fentanyl Abstral to market. The compound treats cancer pain and is licensed to ProStrakan plc. Although the Abstral revenue share rose by more than 50% up to SEK70.5 million, the company faces losses of almost SEK400 million after tax, approximately four times the amount in 2010. At the end of 2011, Orexo had SEK247 million in cash. Last year, pharma partner Jannsen Pharmaceuticals Inc. cancelled a project, forcing Orexo to give up the projects OX-CLI and OX-ESI.

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14.04.2011

Stockholm – Swedish Orphan Biovitrum AB (SOBI) has reported weak results for 2010. The company’s net income declined by 7.7% to SEK1.9bn, with losses for the period totalling up to SEK104m. SOBI spokesmen said that several...

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06.04.2011

Stockholm – Swedish Medivir AB has released good news on its lead compound TMC435. The protease inhibitor is intended for the therapy of treatment-naïve patients carrying the genotype-1 hepatitis C virus (HCV). In the PILLAR...

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08.02.2011

Stockholm – At the end of last year, the first European patient was treated with Ruconest – a recombinant C1 esterase inhibitor for the treatment of hereditary acute angioedema attacks developed by the Dutch Pharming Group NV and...

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10.12.2010

Lund/Jerusalem – Active Biotech’s oral small molecule immunomodulator laquinimod (ABR-215062) has reached the primary endpoint of statistically significant reduction in annualized relapse rate compared to placebo, according to...

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04.11.2010

Stockholm – Swedish Orphan Biovitrum AB (Sobi) and Dutch partner Pharming Group NV received market authorisation for Ruconest (rhucin) at the end of October. Intended for use in acute attacks of Hereditary Angioedema (HAE), the...

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25.10.2010

Stockholm - Swedish researchers have unravelled the three-dimensional structure of the egg receptor, paving the way for new treatments of infertility and novel contraceptives. The team headed by Luca Jovine at Karolinska...

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16.09.2010

Uppsala – Orexo AB has announced a bold new strategy. The company listed on the Stockholm stock exchange intends to develop and commercialise its own products from now on rather than out-licensing them to international partners....

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15.09.2010

Linköping – In the first clinical study of its kind, Swedish researchers have proven that biosynthetic corneas can offer a real alternative to rare human replacement corneas. In a process developed by Per Fagerholm and May...

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14.09.2010

Stockholm – A recent study from the Karolinska Institute reveals how two types of cellular changes interact in the development of cancer, and the results could improve the chances of early discovery of sarcomas. Pancreatic cancer...

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