Is the Fun Over for Orexigen (OREX)? (VVUS) (ARNA)

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Shares of Orexigen Therapeutics (Nasdaq: OREX) ran up into the approval VIVUS (Nasdaq: VVUS) Qsymia and Arena's (Nasdaq: ARNA) Belviq, which happened within weeks of each other. Both are new weight-management drugs, the first approved in the U.S. in the last 13 years.

Now, Orexigen holders will still need to wait about two years before its proposed obesity pill, Contrave, is approved.

So, with Orexigen starting May at around $3.50, will investors and traders be anticipating a 50 percent drop in the shares? Or will Arena and VIVUS be enough to sustain hope for the next 18 to 42 months?

Orexigen is trading 3.2 percent lower at the start Thursday, looking at a third day of losses.

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