A Long Way To Go For Approval Of Orexigen's Contrave

BMI view: While there is clear demand for Orexigen's obesity drug Contrave in the US, we believe shareholders may still have to wait a long time to see a return on investment. Despite the company expecting the drug to receive approval by 2014, the US FDA's initial rejection of Contrave in January - as well as delays to the approval of Vivus's Qnexa and Arena's diet drug lorcaserin - highlight the regulatory body's demands for intensive clinical trials to be performed for obesity therapeutics.

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