Orexigen Therapeutics Inc., (NasdaqGM:OREX) took the spotlight early Thursday as shares of the biotech group soared as they signed a North American partnership for its experimental obesity drug Contrave with Takeda Pharmaceutical Co. for $50 million and the potential for later payments that could exceed $1 billion.
Under the terms of the deal, Takeda will market the product in the U.S., Mexico and Canada upon approval. Orexigen will receive $50 million up front and is eligible for more than $1 billion in various milestone payments. Orexigen will also receive tiered double-digit royalties on sales.
Orexigen expects to receive a decision from the U.S. Food and Drug Administration on Contrave by Jan. 31, 2011.
Contrave is one of three new diet drugs up for FDA approval.
Orexigen Therapeutics, Inc., a biopharmaceutical company, focuses on the development of pharmaceutical product candidates for the treatment of obesity. Its lead combination product candidates include Contrave, which has completed Phase III clinical trials; and Empatic that has completed Phase II clinical trials. Contrave is a combination of two drugs, bupropion and naltrexone, in a sustained release formulation (NYSE:SR). Bupropion is an antidepressant and smoking cessation medication; naltrexone is a treatment for alcohol and opioid addiction. The company's Empatic product candidate is a combination of bupropion SR and zonisamide SR. Zonisamide, in an immediate release formulation for the adjunctive treatment of partial seizures, a form of epilepsy. The company was founded in 2002 and is based in La Jolla, California.MusclePharm Corporation, MSLP.OB
MusclePharm Corporation (OTCBB:MSLP.OB) one of the fastest growing nutritional supplement companies in the United States with a proprietary formulation used in eight performance products, recently announced MuscleGel achieves NSF certification. In addition, the Company’s Recon and Assault nutritional products will be NSF certified within the coming months.
NSF International is an independent, not-for-profit organization that meets the growing demands of athletes, coaches and all those concerned about banned substances in sports supplements. NSF International created the new NSF Certified for Sport™ Program. This new NSF program is a focused solution designed to minimize the risk that a dietary supplement or sports nutrition product contains banned substances. This program is part of NSF’s successful 60-year history of providing certification programs for food, water and consumer goods.
MusclePharm Corporation manufactures and markets sports nutrition products for athletes, body builders, and health minded individuals in the United States and internationally. In addition, the products have been field-tested by more than 100 elite professional athletes.Crown Equity Holdings Inc., CRWE.OB
Crown Equity Holdings Inc. (OTCBB:CRWE.OB) recently announced that its sales this year have already surpassed $1,000,000. This compares to $232,510 for the three quarters ending September 30, 2009 and $ 659,907 total sales for the year 2009.
“Based on our sales to date, we had more than 4 times the sales for the same period last year and are 34% ahead of last year’s total sales,” commented Kenneth Bosket, President and CEO of Crown Equity Holdings Inc. “Our growth in sales along with our investments in infrastructure and people give the company a basis for supporting future growth of the magnitude we have seen so far this year,” stated Bosket.
Crown Equity Holdings Inc. has expanded its internet footprint internationally to include the following 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Korea, Mexico, New Zealand, Singapore, Spain, Taiwan and the UK.
Crown Equity Holdings Inc. is a consulting organization which provides and assists small business owners with the knowledge required in taking their company public, and has re-focused its primary vision with its aligned group of independent website divisions to providing media advertising services, as a worldwide online media advertising publisher, dedicated to the distribution of quality branding information, as well as search engine optimization for its clients.
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