OREX » Topics » and Chief Executive Officer

This excerpt taken from the OREX 8-K filed Apr 1, 2009.

and Chief Executive Officer

SAN DIEGO, March 31, 2009 – Orexigen® Therapeutics, Inc. (Nasdaq: OREX), a biopharmaceutical company focused on the treatment of obesity, today announced that its Board of Directors has appointed Michael Narachi as President and Chief Executive Officer of the Company, effective immediately. Narachi succeeds Eckard Weber M.D., Executive Chairman and Interim President and CEO.

“Michael brings nearly a quarter century of biotechnology and pharmaceutical experience in clinical development, commercialization, strategic business development and planning to Orexigen,” said Eckard Weber, M.D., Executive Chairman and Interim President and CEO of 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.”

As President and CEO, Narachi will see through the completion of the remaining three Phase 3 trials for Contrave (naltrexone sustained release (SR)/bupropion SR) and its NDA filing, which is on track for the first half of 2010. Narachi also will oversee the development of Empatic™ (zonisamide SR/bupropion SR), which is in the later stages of Phase 2 clinical development.

“I’m thrilled to join the Orexigen team and to have the opportunity to impact the treatment of obesity, a disease of epidemic proportions worldwide with a significant unmet need,” said Narachi. “I believe in the Orexigen opportunity and, in particular, in the potential of this approach to help patients who suffer from obesity and its related co-morbidities.”

Prior to joining Orexigen, Narachi, age 50, served as Chairman, Chief Executive Officer and President of Ren Pharmaceuticals, Inc., a private biotechnology company and Executive Chairman of the Board of Naryx Pharma, Inc., a private pharmaceutical company. In 2004, Narachi retired as an officer and Vice President and General Manager of Amgen’s Anemia Business. Throughout his 20 years at Amgen, Narachi held various positions including: Product Development Team Leader for NEUPOGEN®; Director of Clinical Operations in Thousand Oaks, Calif., and Cambridge, U.K.; Vice President of Development and Representative Director for Amgen Japan; Head of Corporate Strategic Planning; Chief Operations Officer of Amgen BioPharma; and Vice President, Licensing and Business Development. He is also a director of AMAG Pharmaceuticals, Inc.

Mr. Narachi received B.S. and M.A. degrees in Molecular Genetics from the University of California at Davis. He also received an M.B.A. from the Anderson Graduate School of Management at University of California, Los Angeles.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki