Orexigen Follows Through On Warning It May Have To Liquidate
Orexigen hoped its go-it-alone strategy would boost obesity drug Contrave's sales enough to keep the company afloat, but now it has initiated bankruptcy proceedings, following through on a warning in October that it might not meet debt holders' requirements.
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Finance Watch: In Obesity, Vivus Raises Cash For Deals, Orexigen Finds A Buyer
Public Company Edition: Strategies diverge in obesity as Vivus restructures debt and raises cash for a new deal and new focus, after Orexigen nears a sale of the company via bankruptcy court. Also, Clovis leads recent offerings, while layoffs are on the table at Catabasis.
Deal Watch: Gilead’s Immunology Collaboration With Verily Continues Pivot Away From Virology
Gilead’s tie-up with Google’s Verily will explore the immunological underpinnings of rheumatoid arthritis, lupus and GI disorders. Janssen acquires BeneVir and its oncolytic virus expertise, while United Therapeutics buys out SteadyMed.
Novo Nordisk: Semaglutide Heralds Commercial Dawn Of Obesity Market
The Danish group expects its experimental GLP-1 semaglutide to prove so effective and safe in fighting obesity that it will spur commercial viability for medical treatment of the condition.