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Orexigen Follows Through On Warning It May Have To Liquidate

 
• By Mandy Jackson

Orexigen hoped its go-it-alone strategy would boost obesity drug Contrave's sales enough to keep the company afloat, but now it has initiated bankruptcy proceedings, following through on a warning in October that it might not meet debt holders' requirements.

Businessman comparing two documents, neutral background

Orexigen Therapeutics Inc. was the most successful among a group of three obesity-focused companies that won approval for a prescription weight-loss drug in recent years, but now the firm is making good on a warning that it might have to liquidate its assets to meet debt holders' requirements.

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