ARTICLE | Company News

Orexigen sinks on Contrave postapproval details

September 12, 2014 2:40 AM UTC

Orexigen Therapeutics Inc. (NASDAQ:OREX) was off $0.62 (11%) to $5.28 on Thursday after the biotech said it would fund the postapproval cardiovascular outcomes trial requested by FDA for Contrave naltrexone/bupropion. The agency approved the obesity drug late Wednesday.

Orexigen and U.S. commercialization partner Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) are finalizing details of the placebo-controlled trial, which is slated to start next year. On a Thursday conference call, Orexigen said the partners will split any additional costs 50/50 if they opt for a larger outcomes trial to show superiority (see BioCentury Extra, Sept. 10). ...