FDA approves weight-loss drug Contrave

ammza12 | iStock | Getty Images

U.S. regulators are greenlighting a new weight-loss drug called Contrave, the third in a string of approvals for anti-obesity treatments.

The drug is made by Orexigen Therapeutics, based in La Jolla, California. The Food and Drug Administration said Thursday it is approved for use by people who have a body mass index of 30 or higher, which is the level at which people are considered to be obese. It is also approved for use by people with a BMI of 27 or higher who also have a weight-related medical condition such as diabetes.

Read MoreZafgen CEO: You've got obesity all wrong

In addition to Contrave, the FDA has approved Qsymia from Vivusand Belviq from Arena Pharmaceuticals.

Sales of the drugs have been below expectations because of limited insurance coverage and high costs for patients.