BUZZ-Orexigen Therapeutics Inc: Up after signing deal with Valeant

Tue Aug 30, 2016 9:16am EDT
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** Drugmaker's shares up 12 pct at $4.3 premarket

** Signs deal with Valeant Pharmaceuticals International Inc for its weight loss drug, Contrave

** Valeant will be responsible for obtaining Canadian regulatory approval, commercialization activity and expenses for the drug

** Orexigen expects Valeant to file with Health Canada for regulatory approval by January

** Contrave was approved by U.S. FDA in 2014

** Up to Monday's close, stock had fallen 86.2 pct YTD