Sweden's Orexo has hired an external financial advisor to assist in its "evaluation of a full range of strategic alternatives".

The firm, which specialises in sublingual drug delivery technologies, has retained Guggenheim Securities for the review, which is taking place in conjunction with Orexo's ongoing evaluation of its US commercial plan. The review is aimed at enhancing "both commercial prospects for the company's products and shareholder value".

The company recently submitted Zubsolv, an improved version of Reckitt Benckiser's Suboxone (buprenorphine/naloxone) which currently dominates the $1.3 billion opioid addiction market, to the US Food and Drug Administration. Also the transfer of US rights for the cancer pain drug Abstral (fentanyl) to Orexo from Scotland's ProStrakan from January 1, 2013 means that the company should have two commercially available products across the pond next year.

Orexo is playing its cards close to its chest about what it intends to achieve with the review. The firm says that it has "not made a decision to pursue any specific transaction or other strategic alternative".