The buprenorphine/naloxone market continues to grow at a low rate of 3 percent. This is at the lower end of our guidance of 2-5 percent for the year and can be explained by considerable dynamics in the payer landscape. Since last summer, we have seen a trend in declining prescriptions to Medicaid patients and significant double-digit growth in patients with Commercial insurance. However, with the low market growth, this shift is rather driven by patients currently receiving treatment moving from Medicaid insurance to Commercial insurance than an inflow of new patients. Over the long term, a larger market share of Commercial insurance could benefit Orexo due to the excellent market access of Zubsolv in this segment, as well as more favourable pricing. To have a real impact on Zubsolv sales, we need to see growth in new patients since most physicians are hesitant to change medication for patients during treatment.
As expected, Zubsolv’s revenues grew significantly from the first quarter, and even slightly over the last year, in both USD and SEK. The expenses from the US commercial operations are increasing compared to last year, primarily due to launch preparations for OX124, legal expenses associated with the Subpoena and efforts from Orexo to resolv the situation. In general, expenses have increased due to inflation in the quarter and the cost of the long-term incentive program has increased due to share price appreciation in the first half of 2024.