Orexigen CEO Michael Narachi Elected to PhRMA Board of Directors
SAN DIEGO, April 22, 2013 /PRNewswire/ -- Orexigen® Therapeutics, Inc. (Nasdaq: OREX), a biopharmaceutical company focused on the treatment of obesity, announced today that Michael Narachi, president and chief executive officer, has been named to the Board of Directors of the Pharmaceutical Research and Manufacturers of America (PhRMA). Narachi will serve as a director for a term of two years.
PhRMA represents the country's leading innovative biopharmaceutical research and biotechnology companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives.
"PhRMA represents an industry dedicated to the noblest of missions: Improving the health of patients all over the world," said Narachi. "I'm honored to join the board of PhRMA, and I'm looking forward to being a part of an organization whose mission is to conduct effective advocacy for public policies that encourage discovery of important new medicines for patients."
"I am pleased to welcome a respected industry leader, Mike Narachi, to PhRMA's Board of Directors," said PhRMA President and CEO John J. Castellani. "Mike's many years of experience in the biopharmaceutical sector make him an invaluable addition to our Board as we continue to fight for public policies that recognize the true value of innovative medicines for both patients and the American economy."
Narachi has served as Orexigen's President and Chief Executive Officer and a member of Orexigen's board of directors since March 2009.
Before joining Orexigen, Narachi served as Chairman, CEO and President of Ren Pharmaceuticals, Inc., a private biotechnology company, from November 2006 to March 2009, and chairman of the board of directors of Naryx Pharma, Inc., a private pharmaceutical company. In 2004, Narachi left Amgen Inc., a leading therapeutics company, where he served as an officer and Vice President and, from 1999 through 2003, as General Manager of Amgen's Anemia Business. After joining Amgen in 1984, he held various positions throughout the organization including: Product Development Team Leader for NEUPOGEN®; Director of Clinical Operations in Thousand Oaks, CA and Cambridge, UK; 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.
Mr. Narachi also currently serves as a member of the Board of Directors of BIO, the Biotechnology Industry Organization, and AMAG Pharmaceuticals, Inc., a publicly traded pharmaceutical company.
About Orexigen Therapeutics
Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the treatment of obesity. The Company's lead product candidate is Contrave®, which has completed Phase 3 clinical trials and for which a New Drug Application has been submitted and reviewed by the FDA. The Company has also reached agreement with the FDA on a Special Protocol Assessment (SPA) for the Light Study, the Contrave cardiovascular outcomes trial. The Company's other product candidate, Empatic™, has completed Phase 2 clinical trials. Further information about the Company can be found at www.orexigen.com.
Contact: McDavid Stilwell, 858-875-8600
SOURCE Orexigen Therapeutics, Inc.
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