Overview
(January 7, 2026, New York) – Steptoe LLP served as legal counsel to Orexo AB in its agreement to divest the US rights to Zubsolv® (buprenorphine/naloxone) sublingual tablet CIII for the treatment of opioid use disorder to Dexcel Pharma USA. The transaction, valued at approximately $91 million plus inventory and contingent consideration of up to $16.8 million, marks a significant milestone in Orexo's strategic efforts to strengthen its financial foundation. The transaction will also enable the company to accelerate development of next-generation therapies for the treatment of opioid overdose, anaphylaxis, and Tranq dependency, all supported by the proprietary AmorphOX®technology.
"We've built a strong, longstanding relationship with Orexo, and it's always a privilege to support their strategic goals," said John Molenda, Ph.D., co-chair of Steptoe's Healthcare & Life Sciences group. "This transaction underscores the depth of our collaboration and Orexo's forward-looking vision. We're excited to continue serving as a trusted advisor and partner as Orexo pursues its next chapter of growth."
Steptoe's transaction team included John Molenda, Vishal Gupta, Brad McCormick, Tim Moran, Tyler Doh, and Irene He, with cross-practice support from Robyn Crowther, Lauren Azebu, Christian Auty, Brian Fleming, and Michael Weiner.
About Orexo
Orexo is a Swedish biotechnology company dedicated to advancing treatments for severe diseases and life-saving rescue medications to meet future healthcare needs. At the core of our innovation is AmorphOX®, a proprietary drug delivery technology that improves bioavailability and stability for both large and small molecules, enabling new approaches to administration, manufacturing, and distribution. With over 30 years of experience and multiple drugs approved globally, Orexo is advancing a diversified pipeline of programs in clinical and pre-clinical development. The company collaborates with partners in research, development, and commercialization. Headquartered in Uppsala, Sweden, Orexo is listed on Nasdaq Stockholm's main market and trades as ADRs on the OTCQX market in the United States.
For more information please visit www.orexo.com.
About Steptoe
In more than 110 years of practice, Steptoe has earned an international reputation for vigorous representation of clients before governmental agencies, successful advocacy in litigation and arbitration, and creative and practical advice in structuring business transactions. Steptoe has more than 500 lawyers and other professional staff across offices in Beijing, Brussels, Chicago, Hong Kong, Houston, London, Los Angeles, New York, San Francisco, and Washington, DC. For more information, visit www.steptoe.com.
