FDA Delays Decision on Orexigen Obesity Pill by 3 Months

The FDA extended the review of Orexigen Therapeutics' (OREX) obesity pill Contrave by three months. Wednesday's expected approval decision is now pushed back to Sept. 11. 

"The FDA has indicated that the review extension is needed to reach agreement on the post-marketing obligation related to the previously agreed upon evaluation of cardiovascular (CV) outcomes for NB32," Orexigen said, in a statement. NB32 is Contrave. 

While the approval decision delay is a disappointment, it may work in Orexigen's favor if FDA allows cardiovascular outcomes data favorable to Contrave to be included in the weight loss drug's label. Orexigen's competitors Vivus (VVUS) and Arena Pharmaceuticals  (ARNA) lack data ruling out an increased risk of heart-related side effects. 


Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

More from Investing

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

Macy's Vs. J.C. Penney: Which Department Store Is Just Trying to Survive?

Macy's Vs. J.C. Penney: Which Department Store Is Just Trying to Survive?

The Best Investment Advice? Stay Diversified

The Best Investment Advice? Stay Diversified

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

After PayPal Buys iZettle, Pay-Tech Firms Could Process These Deals

After PayPal Buys iZettle, Pay-Tech Firms Could Process These Deals