Orexigen takes back rights to its weigh management drug from Takeda
pharmafile | March 16, 2016 | News story | Business Services, Manufacturing and Production, Sales and Marketing | Contrave, Orexigen Therapeutics, akeda Pharmaceuticals
Orexigen Therapeutics (Nasdaq: OREX) has taken back the rights to its weight management drug from Japanese pharma giant Takeda Pharmaceuticals (TYO: 4502).
No financial details were disclosed.
The partnership was renewed in August last year after Orexigen agreed to foot the $200 million bill for a new trial to prove Contrave, also reduces the risk of heart disease.
Orexigen believes acquiring the US rights to Contrave will greatly increase long-term potential profits.
Following closing of this transaction, the parties have agreed to a 180-day transition period, during which time Takeda will continue to commercialize Contrave in the US, the companies said in a joint statement.
Takeda will increase its promotional resources and support towards recent launches in the inflammatory bowel disease and major depressive disorder areas and the deal will not have any impact on Takeda’s results forecast for 2015.
Contrave along with diet and exercise is an important treatment option for overweight and obese adults.
Anjali Shukla
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