Edison Investment Research - Orexigen Therapeutics (OREXQ) Update: Taking control of Contrave

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Edison Investment Research

Update: Taking control of Contrave

On 15 March Orexigen announced the acquisition of US distribution rights to its obesity treatment Contrave from Takeda. The company simultaneously announced a new collaboration with Valeant for the commercialization of Mysimba (Contrave ex-US) in 18 Central and Eastern European countries. We value Orexigen at $213m, significantly reduced from $1.09bn, mainly on reduced expectations for Contrave in the US. However, our fair value of $1.47/share is substantially above the current $0.51 share price.

12/04/2016 8 EN

Underlying

Orexigen Therapeutics

Orexigen Therapeutics is a biopharmaceutical company focused on the treatment of obesity. The company's sole product, Contrave

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US6861643020 United States

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Update: Taking control of Contrave

Orexigen Therapeutics Inc (OREX) - Pharmaceuticals & Healthcare - Deals and Alliances Profile

Contrave comeback

Sylvania Platinum - Annual guidance maintained, despite strike

1Spatial - Investing in the transformational SaaS opportunity

Datatec - FY24 underlying EPS more than doubles y-o-y

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