Edison cuts Orexo valuation to 173 Swedish kronor per share

Edison Investment Research has lowered its valuation on Swedish drug developer Orexo (STO: ORX) to 173 Swedish kronor per share primarily driven by revised outlook for its Zubsolv (buprenorphine and naloxone) tablet. The broker in a research note said it sees growth for Zubsolv to cool further, particularly in the near term cool with the continued market share stabilization.

Edison said the Zubsolv’s current 2015 sales worth about 371 million kronor ($44.2 million) is almost 40% below the broker’s last published forecast. The research firm said it sees growth of about 35% in the non-exclusive segments implying peak net sales of about $480 million.

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