Orexo enters into agreement with Dexcel Pharma to divest US Rights to Zubsolv (buprenorphine/naloxone)

Orexo AB announced the signing of an agreement with Dexcel Pharma to divest the full US  rights to Zubsolv (buprenorphine/naloxone) sublingual tablet CIII, for the treatment of opioid use disorder, in the US. The fixed purchase price amounts to USD 91 million, payable at closing and prior to related transaction expenses. Orexo will receive a payment at closing of USD 4–5 million relating to the acquired inventory. Furthermore, Orexo is entitled to a contingent consideration of up to USD 16.8 million, based on future Zubsolv net sales during 2026 and 2027. The transaction is subject to the satisfaction of customary closing conditions and is expected to close at the latest 31 January, 2026.

The divestment is the result of a strategic review of Orexo’s operations to strengthen the company´s financial foundation and ensure investments in areas with the most attractive long-term value potential.

The transaction will enable an increased strategic focus and execution of the company’s proprietary main long-term value drivers – its next-generation drug delivery technology, AmorphOX. Development priorities will focus on advancing several drugs to approval, including Izipry for opioid overdose, OX 640 for anaphylaxis, and OX 390.

Nikolaj Sørensen, President and CEO of Orexo AB, said: “The launch of Zubsolv in the US in 2013 marked a major milestone in Orexo’s history. The decision to divest Zubsolv is equally transformative and was not taken lightly. Assessing the strategic alternatives, we found the proposal from Dexcel Pharma to be the most attractive. It will accelerate the expected cash flow contribution from Zubsolv until loss of exclusivity and enable us to significantly strengthen the balance sheet. Our financial position has limited our ability to fully leverage the potential of our next-generation drug delivery platform, AmorphOX, not least in the fast-growing area of biomolecules. I am especially pleased that the agreement enables many of our colleagues to join Dexcel Pharma and continue working with Zubsolv. I want to express my sincere gratitude for their commitment and dedication to Orexo over the years, and also for the difference they have made for patients in the US suffering from opioid use disorder.”

Doug Boothe, CEO of Dexcel Pharma USA, said:
“Dexcel Pharma is excited to be adding the Zubsolv product and related commercial capabilities from Orexo into our expanding US operations. We look forward to the opportunity to support physicians and patients to help address Opioid Use Disorder while providing a proven sales & marketing platform to enable Dexcel Pharma’s strategic growth.”