The Wall Street Journal.Com
May 11, 2012
By: Paul Vigna
“ Arena Pharmaceuticals Will More Than Double”
Arena Pharmaceuticals (ARNA). An FDA panel recommended overwhelmingly that the company's diet pill be approved and Arena also announced an expanded agreement with Lorcaserin partner Eisai to cover most of North America and South America. The new agreement's details were not provided, but general information provided indicated that Arena will get an upfront payment with increased payments for reaching milestones.
With the growing number of overweight Americans and the billions of dollars that this drug can generate, we give Arena Pharmaceuticals a target of $15 going forward.