Rarely, however, were more than eight such researchers assigned to finding the fat-fighting drug molecule, according to Nichols.

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To identify those rogue genes--and use them to develop lucrative fat-fighting drugs.

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The biggest embarrassment: the fat-fighting hormone Leptin, widely hyped as a cure for obesity in the mid-1990s but abandoned in trials by Amgen in 2000.

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Despite the fact that obesity is one of the biggest preventable causes of death, investors may find that fat-fighting drugs are a far riskier business than they seem.

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