Nov. 8, 2013, 12:27 PM
Nov. 8, 2013, 9:01 AM
Nov. 7, 2013, 4:29 PM
- Arena Pharmaceuticals (ARNA) expands its Belviq marketing agreement with Eisai (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
Nov. 7, 2013, 4:20 PM| 4 Comments
Nov. 7, 2013, 12:10 AM
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Nov. 6, 2013, 5:35 PM
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Nov. 1, 2013, 9:13 AM
Nov. 1, 2013, 8:17 AM
- Shares of Arena Pharmaceuticals (ARNA) are down 4.5% in premarket trading on the heels of Belviq partner Eisai's H1 results.
- Belviq sales for the six months ended September 30 were just $9M.
- Backing out the $4.13M in sales the weight-loss drug saw during Eisai's FQ1 means quarterly sales were somewhere around $4.8-4.9M.
- ARNA recognizes 31.5% of Belviq sales, equating to ~$1.53M for the quarter — consensus is $5.45M.
Oct. 25, 2013, 1:35 PM
Oct. 16, 2013, 9:08 AM
- "Based on the ratio of NRx/TRx, refill rates appear to be low," Needham's Alan Carr says, referring to Arena's (ARNA) Belviq.
- The shares rallied sharply Tuesday, after marketing partner Eisai (ESALF.PK) said it will double its sales force for the weight-loss drug.
- Nevertheless, Carr says "Belviq patient awareness [is] low." The analyst also calls single-agent efficacy "modest."
- Hold rating reiterated.
- ARNA +1.3% premarket.
Oct. 15, 2013, 9:31 AM
- Arena Pharmaceuticals (ARNA +5%) says Belviq marketing partner Eisai (ESALF.PK) is set to double the size of its sales force for the weight-loss drug by December.
- The move will "will enable Eisai to reach approximately 65K physicians in the U.S.," ARNA notes.
- Eisai says the expansion "demonstrates the success ... gained in discussing the [drug's] potential value within the payor community, and the subsequent agreements ... reached with many ... payor partners." (PR)
- Worth noting: In a bearish note late last month, Credit Suisse predicted Eisai would need to hire additional reps in order for the companies to hit the bank's (lowered) Belviq estimates.
Oct. 11, 2013, 9:40 AM
Oct. 4, 2013, 12:33 PM
Oct. 1, 2013, 1:12 PM
- Piper Jaffray cuts its price target on Arena Pharmaceuticals (ARNA -6.8%) to $10 from $11.50, which was exactly what the stock did not need on the heels of Monday's Credit Suisse bear call.
- According to market chatter, Edward Tenthoff has cut Q3 Belviq sales estimates to $1/4M versus $4/14M previously.
Sep. 30, 2013, 12:50 PM
Sep. 30, 2013, 10:11 AM
- A downbeat note out of Credit Suisse hits shares of Arena Pharmaceuticals (ARNA -6.6%) hard in early trading.
- CS slashes Belviq estimates for Q4, FY14, and FY15 to $12M (from $36M), $157M, and $325M, noting that although "these are substantial cuts ... getting to [the] new numbers will still require exponential growth [and] will require Eisai (ESALF.PK) to hire additional reps."
- Other (decisively bearish) takeaways: Profitability is now forecast for 2017 (versus 2016 previously), "slower ramp results in lower royalties and also defers the timing of milestone payments," the company "may need to do another round of financing next year."
- Price target cut to $4 from $5.
- Also lower: VVUS
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