$1.3b obesity drug deal signed
NEW YORK – SHARES of Orexigen Therapeutics Inc surged on Thursday after the drugmaker said it signed a US$1 billion (S$1.34 billion) co-development agreement for its experimental obesity drug Contrave with Takeda Pharmaceuticals. Under the deal, Orexigen will receive US$50 million upfront from Takeda, Japan’s largest drugmaker.
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