Arena Pharmaceuticals, Inc.
) recently announced that Eisai Laboratories S. de R.L. de C.V, a
subsidiary of Eisai Inc., has submitted a marketing authorization
application (MAA) for Belviq (lorcaserin HCl) in Mexico. The
application has been filed with the Federal Commission for the
Protection Against Sanitary Risk (COFEPRIS).
Arena Pharma is looking to get Belviq approved as an adjunct
to a reduced-calorie diet and increased physical activity for
chronic weight management in obese (Body Mass Index, or BMI,
>30) or overweight (BMI >27) adults suffering from at least
one weight-related co-morbid condition.
Obesity is highly prevalent in Mexican adults. Belviq's
Mexican approval should boost the drug's sales potential
We note that Eisai will be responsible for marketing the drug
in Mexico on approval. Following approval, Belviq will be
manufactured by Arena Pharma at its Switzerland facility.
Arena Pharma is entitled to receive $0.5 million as milestone
payment from Eisai, based on the submission of the marketing
application in Mexico. Arena Pharma is also eligible to receive
payments based on Eisai's net sales of Belviq.
We note that Eisai has marketing and distribution rights for
Belviq in North and South America. Eisai also intends to seek
approval of Belviq in Canada and Brazil during the course of the
We remind investors that Belviq was approved by the US Food
and Drug Administration (FDA) in Jun 2012 as an adjunct to a
healthy diet (low on calories) and increased physical activity
for chronic weight management in obese or overweight
We remind investors that apart from Belviq, another
) Qsymia, also received approval in the US last year.
Orexigen Therapeutics, Inc.
) is also developing a candidate, Contrave, targeting the
lucrative obesity market.
Currently Arena Pharma carries a Zacks Rank #3 (Hold).
Comparatively companies like
) look better positioned, carrying a Zacks Rank #1 (Strong
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