Orexigen Therapeutics $75 million sale of assets approved by court

By Caroline Salls

Pittsburgh, June 28 – Orexigen Therapeutics, Inc. obtained court approval to sell its assets to Nalpropion Pharmaceuticals, Inc. for $75 million, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, Orexigen said it did not receive any competing qualified bids for the assets before the bid deadline.

Orexigen is a San Diego-based biopharmaceutical company focused on the treatment of obesity. The company filed for bankruptcy on March 12 under Chapter 11 case number 18-10518.

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