Reuters: Global Markets: Diet drug makers Vivus and Orexigen fall ahead of FDA decision

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Diet drug makers Vivus and Orexigen fall ahead of FDA decision Jul 17th 2012, 14:15 Tue Jul 17, 2012 10:15am EDT (Reuters) - Shares of weight-loss drug makers Vivus Inc (VVUS.O) and Orexigen Therapeutics Inc (OREX.O) fell ahead of an anticipated deadline for the U.S. Food and Drug Administration to vote on approval of Vivus's diet drug Qnexa. Share of Vivus, which rose on Monday, were down 9.8 percent to $25.90 in early trading on the Nasdaq, while shares of Orexigen dipped 5.7 percent to $6.98 after an initial rally. Meanwhile, shares in Arena Pharmaceuticals Inc (ARNA.O), which won approval for its diet drug Belviq last month, were up 0.8 percent to $11.20. All three were among the most actively traded stocks on the Nasdaq. The FDA is scheduled to release a decision on Qnexa by the end of the day.

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