Orexigen Therapeutics sells assets to Nalpropion Pharmaceuticals, Inc..

Orexigen Therapeutics, Inc announced that it has entered into an asset purchase agreement with Nalpropion Pharmaceuticals, Inc. to sell substantially all of the assets of the company, subject to court approval. Under the terms of the agreement, Orexigen will sell the world-wide rights to Contrave (naltrexone HCl / bupropion HCl extended release) /Mysimba (naltrexone HCl and bupropion HCl prolonged release) and certain other Orexigen assets for $75 million in cash. The deal is subject to higher and better offers.