BioWorld International Correspondent
Orexo AB, like many other European firms, is adopting a specialty pharma model and plans to focus on proprietary product development, rather than on out-licensing programs to international partners, which has been its mainstay up to now.
It will build or buy its own sales force in order to maximize return from the products it develops.
The company is seeking a new CEO with "broad international commercial experience," to lead the new strategy. Torbjorn Bjerke, its current president and CEO, will stay on until his successor is in place. Thereafter, he will become a nonexecutive director of the company.