Orexigen Diet Pill Victory Shows Being Last Pays Off
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Orexigen Therapeutics Inc.’s success in winning the first U.S. panel recommendation for a long-sought prescription diet pill led its shares to almost double and shows the company benefited from its rivals’ earlier difficulties.
Outside advisers to the Food and Drug Administration said weight-loss benefits of Orexigen’s product, Contrave, exceed the dangers of elevated pulse and blood pressure and that a large study on cardiovascular risk can wait until after the drug is approved. The FDA delayed competing treatments from Arena Pharmaceuticals Inc. and Vivus Inc. in October after they failed to win panel backing on safety.