David Endicott Joins Orexigen Therapeutics Board of Directors
SAN DIEGO, Nov. 30, 2012 /PRNewswire/ — Orexigen(®) Therapeutics, Inc. (Nasdaq: OREX), a biopharmaceutical company focused on the treatment of obesity, today announced the appointment of David Endicott to its board of directors.
Mr. Endicott brings over 25 years of pharmaceutical and healthcare experience serving leadership roles in the U.S. and internationally at Allergan, Inc. He currently serves as President of Allergan Medical, Asia Pacific and Latin America. Prior to this he served in roles as President, Allergan Medical and President of Europe, Middle East and Africa. Mr. Endicott has led Allergan’s U.S. Specialty Pharmaceuticals business, and established Allergan’s Managed Markets group in addition to other leadership roles since joining Allergan in 1986.
“During the course of his successful career at Allergan, David has managed the international expansion of Allergan’s businesses as well as important divisions such as Managed Markets,” said Michael Narachi, Orexigen’s chief executive officer. “We look forward to benefiting from his advice and leadership experience in the coming years as we look to the possible approval and commercial launch of Contrave(®) in the United States and globally.”
About Orexigen Therapeutics
Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the treatment of obesity. The Company’s lead product candidate is Contrave, which has completed Phase III clinical trials and for which a New Drug Application has been submitted and reviewed by the FDA. The Company has also reached agreement with the FDA on a Special Protocol Assessment (SPA) for the Light Study, the Contrave cardiovascular outcomes trial. The Company’s other product candidate, Empatic(TM), has completed Phase II clinical trials. Further information about the Company can be found at www.orexigen.com.
Orexigen cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as “believes,” “anticipates,” “plans,” “expects,” “indicates,” “will,” “should,” “intends,” “potential,” “suggests,” “assuming,” “designed” and similar expressions are intended to identify forward-looking statements. These statements are based on the Company’s current beliefs and expectations. These forward-looking statements include statements regarding the the potential for and timing of approval for Contrave globally.. The inclusion of forward-looking statements should not be regarded as a representation by Orexigen that any of its plans will be achieved. Actual results may differ from those set forth in this release due to the risk and uncertainties inherent in the Orexigen business, including, without limitation: Orexigen’s ability to conduct the Light Study and the progress and timing thereof; Orexigen’s ability to demonstrate in the Light Study that the risk of MACE in overweight and obese subjects treated with Contrave does not adversely affect the product candidate’s benefit-risk profile; the potential that earlier clinical trials may not be predictive of future results in the Light Study or Phase III trials for Empatic; the Special Protocol Assessment (SPA) is not binding on the FDA if public health concerns unrecognized at the time the SPA agreement was entered into become evident, other new scientific concerns regarding product safety or efficacy arise, or if Orexigen fails to comply with the agreed upon trial protocol; the potential for the FDA or other equivalent ex-US regulatory agency to not approve Contrave; the potential for early termination of the collaboration agreement between Orexigen and Takeda; the costs and time required to complete additional clinical, non-clinical or other requirements prior to any resubmission of an NDA for Contrave; the therapeutic and commercial value of Contrave; Orexigen’s ability to maintain sufficient capital; and other risks described in the Company’s filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Orexigen undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. Further information regarding these and other risks is included under the heading “Risk Factors” in Orexigen’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission November 9, 2012 and which is available from the SEC’s website (www.sec.gov) and on Orexigen’s website (www.orexigen.com) under the heading “Investor Relations.” All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Orexigen Contact: Media Contact: McDavid Stilwell Denise Powell VP, Corporate Communications and Business Development WCG (858) 875-8629 (510) 703-9491
SOURCE Orexigen Therapeutics, Inc.