New Weight Loss Drug Belviq, From Arena, Is Going On Sale June 11

on June 07 2013 9:24 AM
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Arena Pharmaceuticals, Inc. (Nasdaq:ARNA) said Friday that its new weight-loss drug, Belviq, would be available by prescription at U.S. pharmacies on Tuesday.

The San Diego-based drugmaker has picked Eisai Inc., of Woodcliff Lake, N.J., as its marketer and distributor of its drug, which diminishes appetite to help reduce overweight people’s desire to consume calories.

The drugmaker claims that -- along with reduced caloric consumption and increased physical exercise – Belviq (pronounced bel-veek) will help the chronically obese shed some pounds.

Eisai will pay Arena 31.5 percent of its annual net sales of the treatment, which will increase to 36.5 percent for annual net sales exceeding $750 million. Arena says it is eligible to receive up to an additional $1.2 billion in payments from Eisai’s annual net sales of the drug for a total potential annual revenue of $1.9 billion as a result of the deal.

Belviq is made at Arena’s Switzerland-based facility.

Arena’s share price was up 1.39 percent to $8.66 in pre-market trading in New York on Friday.

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