NEW YORK, Nov. 13, 2013 /PRNewswire/ --OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Orexo AB (OTCQX: ORXOY; OMX Nordic Exchange Stockholm: ORX), an emerging specialty pharmaceuticals company with commercial operations in the U.S. and research and development in Sweden, has chosen to have its American Depositary Receipts (ADRs) traded on OTCQX, the best marketplace with qualified companies.
Orexo began trading today on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies that are listed on a qualified international exchange, undergo management reviews and provide their home country disclosure to U.S. investors. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased Orexo has chosen to join the OTCQX marketplace," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "OTCQX provides qualifying issuers the ability to distinguish themselves in the U.S. market and increase their visibility with traders, investors, analysts and the media through high-quality disclosure, transparent trading and ease of access to company information. We look forward to supporting Orexo and providing a robust public market for its depositary receipts."
"Given our increased presence in the U.S., following the launch of Zubsolv®, I am very pleased that our ADRs are now trading on the OTCQX marketplace. OTCQX International provides Orexo the opportunity to create a better informed and more efficient marketplace for U.S.-based investors. Joining OTCQX will complement our presence on the NASDAQ OMX Stockholm Exchange, while facilitating and enhancing global trading in Orexo's shares," said Henrik Juuel, EVP and Chief Financial Officer of Orexo AB.
Citi will serve as Orexo's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
Orexo is an emerging specialty pharmaceuticals company with commercial operations in the U.S. and research and development in Sweden developing improved treatments using proprietary drug delivery technology and commercial operations in the U.S. The company's product, Zubsolv® (buprenorphine and naloxone), for maintenance treatment of opioid dependence, was launched in the U.S. in September 2013.
Orexo trades in the U.S. on OTCQX under the symbol "ORXOY," where each ADR represents one ordinary share.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace with Qualified Companies; OTCQB®, The Venture Stage Marketplace with U.S. Reporting Companies; and OTC Pink®, The Open Marketplace with Variable Reporting Companies. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS® is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
SOURCE OTC Markets Group Inc.