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Wed, Jul. 15, 10:36 AM
- Celgene's (CELG +9.5%) $7.2B deal for Receptos (RCPT +10.3%) is “a great acquisition at a great price," Nomura analysts say, as ozanimod could enable CELG's inflammation and immunology franchise to double peak sales to $10B and reduce reliance on Revlimid to drive future growth, and the acquisition price of less than 2x peak sales is a steep discount relative to recent comparisons.
- Wedbush analyst Liana Moussatos sees plenty of potential upside to justify a rival bidder stepping in for RCPT, noting that she had estimated the company could be valued at $348/share, or ~$10.9B, in a buyout, substantially more than CELG's $232 offer.
- The deal is boosting some biotech names (IBB +1.9%), including PTC Therapeutics (PTCT +11.7%), Celsion (CLSN +7.1%) and Arena Pharmaceuticals (ARNA +6.7%).
Wed, Jul. 15, 9:15 AM
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Wed, May 27, 11:07 AM
- Results from the SCALE Obesity and Prediabetes three-year extension study show that ongoing treatment with Novo Nordisk's (NVO +0.2%) Saxenda (liraglutide 3 mg), in combination with a reduced-calorie diet and increased physical activity, delayed the onset of type 2 diabetes in adults that were either obese or overweight with comorbidities and had prediabetes at baseline.
- Over the course of the 160-week blinded Phase 3a trial, the time to onset of type 2 diabetes was 2.6x longer in the Saxenda cohort compared to placebo. The risk of developing type 2 diabetes was reduced by ~80%.
- At week 160, patients receiving Saxenda experienced an average weight loss of 6.1% from baseline compared to 1.8% for placebo. Almost 50% of the Saxenda group (49.6%) achieved a clinically meaningful weight loss of at least 5% from baseline versus 23.4% for placebo. The proportion of patients in each group who lost at least 10% of their body weight compared to baseline was 24.3% and 9.4%, respectively.
- The FDA approved Saxenda for the treatment of obesity in December 2014. The EMA approved it in March. It won't come cheap, though. In the U.S., it will cost over $1,000 per month.
- Previously: Novo's obesity drug will cost U.S. patients over $1,000 per month (April 22)
- Related tickers: (VVUS -1.2%)(ARNA -1.7%)(OREX -1.1%)
Tue, May 12, 8:57 AM
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Wed, Apr. 29, 9:17 AM
Wed, Apr. 22, 10:52 AM
- Novo Nordisk (NVO -0.4%) launches its obesity drug Saxenda (liraglutide) today in the U.S. According to Reuters, it will cost $1,068 per month. Out-of-pocket costs for patients will depend, of course, on their insurance coverage.
- The FDA approved Saxenda in late December.
- Previously: FDA clears Novo weight management drug (Dec. 23, 2014)
- Related tickers: (OREX -2.5%)(VVUS +0.2%)(ARNA +1.1%)
Fri, Apr. 10, 9:29 AM
- The USPTO issues a method-of-treatment patent to Arena Pharmaceuticals (NASDAQ:ARNA) for Belviq (lorcaserin HCl). Patent No. 8,999,970 describes a method for selecting appropriate patients based on renal function for Belviq. The patent extends Belviq's exclusivity to 2033.
- Separately, Eisai intends to restructure its U.S. operations, including a 25% workforce reduction. Its new Neurology Sales group will consist of 90 representatives who will promote Belviq and two other Eisai products. A shared contract sales force of 230 reps will promote Belviq on Eisai's behalf in addition to another product on behalf of another pharma firm. This represents nearly a 50% drop from the original 600-strong group promoting Belviq.
- Previously: Eisai Metabolic sales force now 600 (July 10, 2014)
- Previously: Arena says Eisai to increase size of Belviq sales force (Oct. 15, 2013)
Fri, Apr. 10, 8:48 AM
- Arena Pharmaceuticals (NASDAQ:ARNA) and commercialization partner Eisai (OTC:ESALF) (OTCPK:ESALY) announce the completion of two Phase 1 registration trials that they believe demonstrate the bioequivalence of an extended release formulation of Belviq (lorcaserin HCl) and the current twice-daily immediate release version. If approved, the new (expected) once-daily regimen will be marketed as Belviq XR.
- Each trial evaluated the safety, tolerability, pharmacokinetics and bioavailability of extended release lorcaserin in 36 healthy volunteers. They received either 10 mg twice per day or 20 mg once per day in a two-way crossover sequence.
- Arena President & CEO Jack Lief says, "This extended release formulation has the potential to offer once-daily dosing. We expect the results from these trials will allow us to submit a New Drug Application with the FDA for the treatment of weight management later this year and may also support our efforts to further pursue additional opportunities within our lorcaserin life cycle management portfolio."
- The FDA approved Belviq in June 2012 for chronic weight management, in addition to a reduced-calorie diet and exercise.
Tue, Mar. 24, 5:35 PM
ARNA vs. ETF Alternatives
Arena Pharmaceuticals Inc is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing novel drugs that target G protein-coupled receptors, or GPCRs, to address unmet medical needs.
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