Bankrupt and weary, diet pill maker Orexigen to sell for $75M to Nalpropion
Diet pill maker Orexigen Therapeutics can finally turn out the lights. After a years-long battle to bring its finances into the black, the company put its assets for sale, filed for bankruptcy, and finally attracted a buyer.
The San Diego-based company has inked a deal to be purchased for $75 million by Nalpropion Pharmaceuticals, a newly-created company capitalized by an investor group that includes Pernix Therapeutics, a small-cap public company in New Jersey.
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