Orexo Completes $91 Million Sale of Zubsolv Rights to Dexcel Pharma

Orexo AB (publ) has finalized the divestment of its U.S. rights to Zubsolv, a medication used in the treatment of opioid dependence, to Dexcel Pharma for a total of $91 million. The agreement, completed on December 22, 2025, represents a significant strategic move for Orexo as it aims to realign its business focus.

During a conference call discussing the transaction, Nikolaj Sørensen, President and CEO of Orexo, emphasized the importance of the deal. He acknowledged the timing of the announcement, occurring shortly before the holiday season, and expressed gratitude for the opportunity to conclude such a significant transaction. The sale is expected to provide Orexo with a financial boost, allowing the company to pursue its broader objectives.

The agreement includes a provision for contingent payments, potentially adding up to an additional $16.8 million based on future performance metrics. This earn-out structure reflects Orexo’s confidence in the ongoing market potential for Zubsolv under Dexcel’s management.

In addition to the upfront payment, Orexo will also receive compensation for its existing inventory at the time of closing. This aspect of the deal is crucial, as it ensures that the company can capitalize on its current stock while transitioning operations to Dexcel.

Frederik Jarrsten, the Executive Vice President and Chief Financial Officer of Orexo, highlighted the thorough preparations leading up to this transaction. He stated that the company had been working intensively on the divestment throughout the autumn months, making the successful closure of this deal a timely achievement.

Klas Palin from DNB Carnegie, who participated in the call, noted the strategic implications of the acquisition for Dexcel Pharma. This transaction enhances Dexcel’s portfolio in the U.S. market, a key region for the distribution of Zubsolv, which has shown strong demand as a treatment for opioid addiction.

The sale of Zubsolv marks a pivotal moment for Orexo, allowing the company to streamline its operations and focus on developing other areas of its business. As the pharmaceutical landscape continues to evolve, this divestment could prove beneficial for both Orexo and Dexcel, paving the way for future growth and innovation in the treatment of opioid dependence.

With the deal concluded just before the holiday period, Orexo’s leadership expressed optimism about the future. The company anticipates leveraging the financial resources from this transaction to explore new opportunities and enhance its product offerings in the pharmaceutical market.