Orexigen Therapeutics Inc fka OREX

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Orexigen Therapeutics, Inc. (NASDAQ:OREX) & Medtronic PLC (NYSE:MDT) Healthcare Stocks Alert

On Wednesday, Shares of Orexigen Therapeutics, Inc. (NASDAQ:OREX) gained 51.56% to $0.640. The share price is trading in a range of $0.45 – $0.65. The stock exchanged hands with 13.78 Million shares contrast to its average daily volume of 1.97 Million shares.

Orexigen Therapeutics, Inc. (OREX) declared that the United States District Court for the District of Delaware has issued a claim construction (Markman) ruling governing patent litigation brought by Orexigen and Takeda Pharmaceuticals against Actavis Laboratories FL, Inc., Andrx Corporation, Actavis Pharma, Inc., and Actavis Inc., collectively referred to as Actavis. The lawsuit was filed in response to an Abbreviated New Drug Application, or ANDA, filed by Actavis. In its application, Actavis seeks to market and sell a generic version of the presently approved dose of Contrave® (naltrexone HCl / bupropion HCl extended release) tablets preceding to the expiration of U.S. Patents listed in the FDA’s Approved Drug Products with Therapeutic Equivalence Evaluations, or the Orange Book. There are 10 Contrave patents listed in the Orange Book, the last of which expires in 2032.

Orexigen and Takeda filed the lawsuit on the basis that Actavis’ projected generic product infringes the Contrave patents. In a Markman ruling, also known as a claim construction ruling, the Court determines the meaning of disputed patent claim terms at issue in patent litigation. The Markman hearing for the Actavis litigation was held on May 24, 2016. In a June 6, 2016 Markman ruling, Judge Richard G. Andrews adopted Orexigen’s projected constructions for the majority of the disputed claim terms


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