Interim Report, January - June 2005

Key events during the period - Net sales amounted to MSEK 2.9 (13.8) 2 - Net loss after tax was MSEK -35.2 (loss: 18.0) - Earnings per share amounted to a loss of SEK 953.45 (loss: 525.32) - Dr. Thomas Leoo appointed new Medical Director - Dr. Anders Pettersson – former Medical Director and one of Orexo’s founders – will now head Orexo's innovation team, with responsibility for identifying and evaluating future product candidates - Lena Söderström assumed responsibility for Orexo subsidiary Diabact® UBT - Orexo was nominated for the “2005 Export Award” for successful internationalization - Professor John Sjögren elected new Board member at the Orexo Annual General Meeting - Orexo AB sells the rights to its cell-penetrating peptide technology, CPP, for MSEK 9.5, resulting in a capital gain of MSEK 8.9 Second Quarter 2005 - Net sales amounted to MSEK 1.7 (12.7) 1 2 - Net loss after tax was MSEK -16.4 (loss: -9.1) - Earnings per share amounted to a loss of MSEK 443.55 (loss: 264.48) For further information, please contact: Zsolt Lavotha, President & CEO, Orexo AB +46 (0)18 780 88 00. E-mail: zsolt.lavotha@orexo.se Johan Tamsen, Investor Relations, Orexo AB +46 (0)733 25 40 10, E-mail: johan.tamsen@orexo.se www.orexo.com