(EMAILWIRE.COM, September 03, 2010 ) New York, NY-Orexigen Therapeutics, Inc. (NASDAQ:OREX) soared 18.52% to $5.44 on over 8.33 million shares. Orexigen Therapeutics Inc said it sold the North American marketing rights for its experimental weight-loss drug, Contrave, to Japan's Takeda Pharmaceutical Co Ltd in a deal that could be worth more than $1 billion.


The deal with Orexigen marks Takeda's second obesity drug partnership. Under the Orexigen partnership, Takeda will market Contrave in the United States, Mexico and Canada.


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VIVUS, Inc. (NASDAQ:VVUS) gained 10.84% to $6.34 on over 6.51 million shares. Orexigen and Arena, along with Vivus Inc are vying to get approval for the first new diet drug in a decade - a goal driven by trends in the United States where nearly 27 percent of the population is considered obese.

The stock has a 52-week range of $4.69-$13.68. The volumes were high today at 6.51 million shares as compared to its daily average volume of 2.63 million shares.


Cell Therapeutics, Inc. (NASDAQ:CTIC) rose 1.19% to $0.384 on over 1.62 million shares. The volumes low today at 1.62 million shares as compared to its daily average volume of 2.30 million shares.


Over the past 52-weeks, the stock traded within the range of $0.12-$1.57.


PDL BioPharma Inc. (NASDAQ:PDLI) surged 1.05% to $5.78 on over 2.51 million shares. After opening the trade at $5.77, the stock today traded within the range of $5.72-$5.81. At today`s closing market price, the market capitalization of the stock stood at $691.95 million.

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