What: Shares of biopharmaceutical company VIVUS (Nasdaq: VVUS ) surged 15% on Wednesday after receiving approval from the Food and Drug Administration for its new weight-loss pill Qsymia.
So what: The decision marks the second diet drug approval by the FDA within just the past month, giving overweight consumers the choice between VIVUS' Qsymia and Arena Pharmaceuticals' (Nasdaq: ARNA ) Belviq. Of course, FDA studies suggest that Qsymia is the more effective of the two, so it's no surprise that Arena shares are down significantly on the news.
The lies have begun, and it is time to really start buying!
We should be seeing this type of column everywhere for another few days and then the "big boys" will buy everything they can and no telling how much higher ARNA will go.