SAN DIEGO, Calif. and RESEARCH TRIANGLE PARK, N.C., March 12, 2010 -- Orexigen(R) Therapeutics, Inc. (Nasdaq: OREX), a biopharmaceutical company focused on the treatment of obesity, and Patheon Inc. (TSX: PTI), a global provider of drug development and manufacturing services, announced today a long-term agreement for commercial manufacturing of Contrave(R) (naltrexone HCL sustained release (SR)/bupropion HCL SR) as well as development of future formulations of Orexigen products. The financial terms of the deal were not disclosed.
"Patheon's manufacturing capabilities provide us a proven platform to help ensure successful market entry and stable commercial supply of Contrave in the event it is approved," said Mike Narachi, President and CEO of Orexigen. "This relationship also provides the means to accelerate the development and commercialization of next generation formulations of Orexigen products."
"We have crafted a strategic, long-term partnership predicated on a shared commitment to maximizing the potential of Contrave and Empatic and to the mission of addressing the significant health issue of obesity," said Wes Wheeler, President and CEO of Patheon.
About Orexigen Therapeutics
Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the treatment of obesity. The Company's lead investigational product, Contrave(R), has completed Phase 3 clinical trials and is on track for a regulatory submission with the FDA by the end of April. The Company's second product, Empatic(TM), has completed Phase 2 clinical development. Each product candidate is designed to act on a specific group of neurons in the central nervous system with the goal of achieving appetite suppression and sustained weight loss, through combination therapeutic approaches. Further information about the Company can be found at http://www.Orexigen.com.
About Patheon
Patheon Inc. is a leading global provider of contract development and manufacturing services to the global pharmaceutical industry. Patheon prides itself in providing the highest quality products and services to approximately 300 of the world's leading pharmaceutical and biotechnology companies. Patheon's services range from preclinical development through commercial manufacturing of a full array of dosage forms including parenteral, solid, semi-solid and liquid forms. Patheon uses many innovative technologies including single-use disposables, multi-layer tablets, pre-filled syringes and a variety of modified release technologies.
Patheon's comprehensive range of fully integrated Pharmaceutical Development Services includes pre-formulation, formulation, analytical development, clinical manufacturing, scale-up and commercialization. Patheon can take customers directly to the clinic with global clinical packaging and distribution services and Patheon's Quick to Clinic(TM) programs can accelerate early phase development project to clinical trials while minimizing the consumption of valuable API.
Patheon, with an integrated development and manufacturing network of 11 facilities and eight development centers across North America and Europe, strives to ensure that customer products can be launched with confidence anywhere in the world.
SOURCE Orexigen Therapeutics, Inc.