OREX UP 17% @ 4.75 The company received approval for its obesity drug Contrave on September 11, and they will be partnering with Takeda Pharmaceutical to launch sales in the coming weeks. While other company’s obesity drugs have had disappointing sales figures, the Merrill Lynch analysts feel that Takeda’s big 900 sales rep force could be a difference maker.
Merrill Lynch has a $9 price target on Orexigen, and the consensus target is even higher at $11.
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