1/15/13 By: RX Stocks
Arena's (ARNA) obesity drug, Belviq, was approved on June 27, 2012 and should receive final scheduling by the DEA soon. The DEA recommended Schedule 4 and is collecting comments through January 18, 2013, then a final decision should be forthwith. European approval may also be imminent (see Seeking Alpha), which could be a game changer. Vivus' (VVUS) drug Qsymia did not get European approval, which will give Belviq exclusivity in the European obesity market. The European sales potential for Belviq and a relatively weak start for Qsymia sales has lead to a change in my previous opinion, published by Seeking Alpha, for Arena's growth potential.