Eisai to market Arena's obesity drug in US

Eisai entered into an agreement with Arena Pharmaceuticals for exclusive rights to commercialise its investigational drug lorcaserin in the US for the treatment of obesity and weight management following FDA approval in a deal potentially worth more than $1.3 billion.

Under the deal, Eisai will make an upfront payment of $50 million to Arena, which will manufacture the product, as well as up to $160 million in milestone payments. The Japanese drugmaker will also pay Arena 31.5 percent of revenue from lorcaserin, and as much as 36.5 percent on the portion of annual sales exceeding $750 million, according to the companies. In addition, Arena is eligible to receive $1.16 billion in one-time purchase price adjustment payments based on annual sales of the drug.

Lorcaserin is one of three drugs under review by the FDA for the treatment of obesity, with an advisory committee panel scheduled September 16 to discuss Arena's compound. Vivus' Qnexa (phentermine/topiramate) and Orexigen Therapeutics' Contrave (bupropion/naltrexone) will be reviewed at panel meetings on July 15 and December 7, respectively.

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