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news.Orexigen Therapeutics, a biopharmaceutical company engaged in the treatment of obesity, has appointed Michael Narachi as its new president and CEO. Mr Narachi succeeds Eckard Weber, executive chairman and interim president and CEO.
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As President and CEO, Mr Narachi will see through the completion of the remaining three Phase III trials for Contrave (naltrexone sustained release (SR)/bupropion SR) and its new drug application filing, which is on track for the first half of 2010. He also will oversee the development of Empatic (zonisamide SR/bupropion SR), which is in the later stages of Phase II clinical development.
Prior to joining Orexigen, Mr Narachi served as chairman, CEO and president of Ren Pharmaceuticals, a private biotechnology company and executive chairman of the board of Naryx Pharma, a pharmaceutical company.
Mr Weber said: “Michael brings nearly a quarter century of biotechnology and pharmaceutical experience in clinical development, commercialization, strategic business development and planning to Orexigen. We are confident that his broad expertise will be instrumental as we focus on FDA approval of Contrave, exploring partnership opportunities and executing on broader business strategies.”