Orexo

Report Publication Announcement • Mar 25, 2009

Press release 25th March, 2009

Notice of Annual General Meeting of Orexo AB, 23 April 2009

In accordance with the listing agreement with NASDAQ OMX Stockholm AB, Orexo AB hereby also announces, by issuing a press release, the content of the notice concerning Orexo's Annual General Meeting on 23 April 2009, and the complete proposal from the Board of Directors regarding the adoption of the employee stock option plan 2009/2019 and the issuance of warrants to subscribe for new shares, and approval of disposal of the warrants issued under the employee stock option plan.

Attachments:

- Notice of Orexo's Annual General Meeting 2009

• Proposal from the Board of Directors regarding the adoption of the employee stock option plan 2009/2019 and the issuance of warrants to subscribe for new shares, and approval of disposal of the warrants issued under the employee stock option plan

For more information, please contact:

Johan Andersson, Investor Relations Manager, Orexo Tel: +46 (o) 702-10 04 51 E-mail: johan.andersson@orexo.com

About Orexo

Orexo is a pharmaceutical company focused on developing drugs for the treatment of pain and inflammation. The company has four approved products as well as a competitive product portfolio in late stages of development. Sales and product development are mainly carried out through worldwide partnership agreements with larger pharmaceutical companies. Orexo has 128 employees, and has its head office located in Uppsala, Sweden.