Skip to main content

Updated from 2:13 p.m. with closing price information.

NEW YORK (TheStreet) -- The FDA gave approval Thursday to Orexigen Therapeutics' (OREX) diet pill Contrave, which became just the third obesity treatment to receive FDA approval in more than 10 years, according to Reuters.

The company did not announce the pill's release date or price.

The FDA delayed its decision on the drug in June for three months because of concerns about sufficient warnings on the packaging. Contrave contains the antidepressant bupropion, so the package will have a warning about increased risk of suicidal thoughts and behaviors.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Contrave combines bupropion with Orexigen's formulation of naltrexone, designed to prevent drug dependence.

Scroll to Continue

TheStreet Recommends

Vivus' (VVUS) - Get VIVUS, Inc. Report Qsymia and Arena Pharmaceuticals' (ARNA) - Get Arena Pharmaceuticals, Inc. Report Belviq are the other two obesity treatments approved by the FDA, both in 2012.

Orexigen shares fell 10.51% to $5.28 at the closing bell Thursday. More than 23.3 million shares changed hands, compared to the average volume of 3,421,170.

Image placeholder title


data by


EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.