Arena Pharma +5% on broader coverage for Belviq

|About: Arena Pharmaceuticals, Inc. (ARNA)|By:, SA News Editor

Arena Pharmaceuticals (ARNA +4.9%) and Japanese partner say their Belviq weight loss drug will be available to more people thanks to an agreement with pharmacy benefits manager CVS Caremark (CVS +0.6%), which means more than half of all Americans with insurance should now have access to the drug.

Aetna (AET) recently announced it would offer Belviq as a preferred brand to eligible patients as part of its pilot program to self-insured plan sponsors.

Belviq is approved for use in adults who are obese or who are overweight and have at least one serious medical condition, such as diabetes or high cholesterol.