It seems that EU will catch onto this information soon. I wonder if approval could be revoked based on fraudulent data?
They didn't just spill the beans. They cherry picked the data and included only 25% of patients studied to quickly come to the conclusion that contrive conferred some cardio protective effect. They immediately grabbed a patent to protect themselves from a genetic challenge. Orex pumped their price 40% and bam.
OREX lied. Period.
Amazing drop from $7 to $4 range. But the rise in share price was based on deception. Market is simply correcting for that fact.
Little ol' Ildong put a whipping to Eisai. A tiny pharma like Ildong in a tiny country like South Korea crushing a supposed giant like Eisai in a giant of a country in the USA.
Eisai... Gimme a break! Eisai... Where's the beef...
The Street is going bankrupt! I think I will pass on that offer thank you!
So as far as I understand, OREX released premature, incomplete and inaccurate data after looking at only 25% of the patient population, cherry picked that data to identify a supposed cardiovascular benefit, and quickly filed patent over the cardiovascular benefits in retaliation to the ANDA filed by Actavis. Now it is clear that without this additional protection, OREX will lose their ANDA battle with Actavis and possibly other generic manufacturers. It is easy to see why OREX officers concede losing their ANDA battle now with Actavis. Wow! So much for generic combo pills!
Again, I say once a generic, always a generic!
Oh well! This is the beginning of the end people.
Sentiment: Strong Sell
OREX basically released premature, incomplete and inaccurate data and filed patent over the cardiovascular benefits in retaliation to the ANDA filed by Actavis.
Without this additional protection, OREX will lose their ANDA battle with Actavis and possibly other generic manufacturers.
OREX officers concede losing their ANDA battle now with Actavis. Wow! So much for generic combo pills!
OREX needs to be put out to pasture over this one. Reps were telling doctors about the patented CV benefit! Wow! All lies!
So let me try and understand this. Let's cherry pick the data which was incomplete at 25% and say there is a cardiovascular benefit when there is truly not. Let's patent this false premise and pump up the price 40%.
Something just does not sit well with this. I wonder what happens to the patent now?
OREX MO. Let's cherry pick the data like all other companies and say there is a CV benefit when there is truly not. Let's patent this false premise and pump up the price 40%.
I got it now. Thanks!
Per Steve Nissen, after 50% interim data analysis, Contrive had more deaths vs. placebo!
Go to medscape and view article 844575.
After 50% data analysis, more deaths in Contrave arm vs. placebo. Bye bye Contrive. Bye bye OREX. Should have never been approved. Black box label for a reason.
Oh yeah! How do you like them apples boys!
Here is a direct quote from Nissen!
"There was even a suggestion of more noncardiovascular deaths in the Contrave arm in the 50% interim analysis."
"Essentially, when they filed the patent the company chose what they were going to put in there and what they were going to leave out," said Nissen. "Frankly, the executives in the company never should have had access to the data. We felt it was in the public interest to take an unprecedented step and release the 50% data because we couldn't allow unreliable data to be used in clinical decision making. We had a duty to the public and also to the investment community, to tell the truth."
How do you like them apples?
Of course they do! OREX is worthy of $45 per share valuation especially with their lies about cardiovascular benefit of Contrive!
Medical community will abandon OREX and Contrive quickly.
Where is the PR from Arena IR? Is this not important material information that should be disclosed to investors?
Sad state of affairs that academics alike including Nissen believe OREX nearly compromised the entire drug approval process!
Ummm. Forbes reported the truth sorry. OREX released incomplete and now inaccurate information prematurely causing investors to lose many millions of dollars. You can bet that this is only the beginning. OREX will pay for new CVOT trial and legal settlements.