Orexigen ships Contrave; head-on pricing set

Orexigen Therapeutics Inc. (NASDAQ:OREX) said it received a $70 million milestone payment from Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) after it sent the first shipment of obesity drug Contrave naltrexone/ bupropion to wholesalers. The pharma plans to launch Contrave this fall, priced in line with its competitors.

Contrave, approved by FDA last month, is the third obesity drug approved by the agency since 2012. Its wholesale acquisition cost (WAC) is $199.50 per month -- the same as Belviq lorcaserin from Arena Pharmaceuticals Inc. (NASDAQ:ARNA) and Eisai Ltd. (Tokyo:4523) and high dose (15 mg) Qsymia phentermine topiramate from Vivus Inc. (NASDAQ:VVUS). ...