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 (VVUS) and Arena Pharmaceuticals (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.
