ago. At that time, Orexigen Therapeutics — a biopharmaceutical company — was developing Contrave, a promising medication that combined two existing drugs to suppress appetite and reduce cravings.
With nearly 40% of the global population considered overweight or obese, the potential market for such a drug was substantial. And shareholders cheered as Orexigen’s stock soared in anticipation of Contrave’s success.
However, the story took a twist when the FDA rejected Contrave in 2011 due to concerns about its cardiovascular safety. Despite this setback, Orexigen continued to pursue FDA approval, eventually winning the agency’s support in 2014.
This rollercoaster journey highlights the unpredictable nature of the pharmaceutical industry, where breakthroughs can lead to massive potential profits but also carry significant risks. As shareholders, we may grumble about market volatility, but we play a crucial role in funding innovative research that can ultimately save lives and improve health outcomes on a global scale. So next time you hear about a shareholder looking to make a quick buck, remember that behind the scenes, we’re also supporting groundbreaking advancements in medicine and science.
