Orexigen gets back U.S. Contrave rights
Orexigen Therapeutics Inc. (NASDAQ:OREX) and Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) are ending their deal under which Takeda was commercializing obesity drug Contrave naltrexone/ bupropion in the U.S. Separately on Tuesday, Orexigen said it granted Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) commercialization rights to the drug in Central and Eastern Europe, where it is known as Mysimba.
On a conference call Tuesday, Orexigen EVP and Chief Commercial Officer Thomas Cannell said the company plans to launch its own U.S. commercial organization, ideally with about 160 sales representatives, and aims to "achieve strong growth of Contrave by differentiating versus generic amphetamines." He projected an annual operating expense rate of about $80-$100 million. Takeda reported $53 million in 2015 U.S. net sales of Contrave. ...