Biopharmaceutical company Orexigen Therapeutics Inc (NASDAQ:OREX) revealed on Monday that it plans to divest substantially all of its assets under an asset purchase agreement with Nalpropion Pharmaceuticals Inc.

This agreement allows Orexigen to sell the world-wide rights to Contrave (naltrexone HCl / bupropion HCl extended release) /Mysimba (naltrexone HCl and bupropion HCl prolonged release) and certain other Orexigen assets for USD75m in cash.

Contrave is a prescription-only, FDA-approved weight-loss medication believed to work on two areas of the brain--the hunger center and the reward system--to reduce hunger and help control cravings. Contrave/Mysimba contains two medicines, bupropion, a relatively weak inhibitor of the neuronal reuptake of dopamine and norepinephrine and naltrexone, an opioid antagonist. In 2017, the US net sales were ~USD75m over ~USD47M1 in 2016.

The deal is subject to higher and better offers as well as subject to court approval. All qualified offers must be submitted by 21 June at 16:00 Eastern Time .