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.
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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.
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SOURCE OTC Markets Group Inc.