Orexigen jumps on Contrave Direct(ion)

Orexigen Therapeutics Inc. (NASDAQ:OREX) surged $1.28 (33%) to $5.13 on Monday as investors welcomed the company's 3Q14 earnings call comments that it had "underestimated" the demand for the Direct Save Program for newly launched obesity drug Contrave naltrexone/ bupropion. The program from North American commercialization partner Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) "is a home delivery pharmacy program run through a national specialty pharmacy company that provides cost savings and benefits for both insured and non-insured patients," Orexigen CCO Mark Booth said on the conference call.

According to Booth, "prescriptions for over 5,000 patients have been sent in to Contrave Direct Save as of the middle of last week." ...