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Arena, Eisai expand Belviq agreement

Nov. 07, 2013 4:29 PM ETPfizer Inc. (PFE) StockPFE, ESALFBy: Colin Lokey, SA News Editor7 Comments
  • Arena Pharmaceuticals (NASDAQ:ARNA) expands its Belviq marketing agreement with Eisai (OTCPK:ESALF).
  • Eisai now has commercialization rights "for all countries worldwide, except for South Korea, Taiwan, Australia, Israel, and New Zealand."
  • ARNA gets $60M upfront and is eligible for up to $176.5M in milestone payments and up to $1.56B in one-time purchase price adjustment payments.
  • ARNA will still recognize 31.5% of North American sales and 30.75% of sales in South America. Rates under new agreement: Europe, China, and Japan, 27.5%; 30.75% elsewhere. Rates may rise as high as 35% in Europe, China, and Asia on sales over $500M.
  • The companies also say they plan to "investigate the potential of Belviq in new areas, such as smoking cessation, a once-daily formulation, a fixed-dose combination with phentermine, as well as explore Belviq's impact on diabetes and cardiovascular outcomes." (PR)
  • See also: ARNA Q3 results

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