When it comes to drug approvals, faster is always better, right?
That doesn't appear to be the case for Orexigen (Nasdaq: OREX ) , who recently disclosed that it might be able to resubmit a New Drug Application to the Food and Drug Administration for its obesity drug, Contrave, before the completion of its newest phase 3 trial. The company's stock jumped briefly on the news, as this scenario could speed up the approval process for the drug. The positive mood was short-lived, however, and the stock has continued to trail lower in recent days along with peers Vivus (Nasdaq: VVUS ) and Arena Pharmaceuticals (Nasdaq: ARNA ) .
In the following video, health care bureau chief Brenton Flynn runs through the Orexigen news and the mixed signals coming from regulators on each side of the Atlantic.
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