Orexigen Therapeutics (NASDAQ:OREX) shares are trading 23.10% higher at $5.65 on news that Takeda Pharmaceutical has agreed to commercialize Orexigen's new diet drug Contrave in North America, subject to regulatory approval.
The company expects to receive a decision from the FDA by January 31, 2011.
SmarTrend is bullish on shares of Orexigen Therapeutics and our subscribers were alerted to buy on July 14, 2010 at $5.26. The stock has risen 6.7% since the alert was issued.
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