Does anyone have them?
Price is going to spike this afternoon - Maximum Pain is $7. It won't make it there but they will push it up in order to make as many expire worthless as possible. To see max pain, search positions plays max pain calculator.
I would LOVE for Eisai to drop them. Pfizer would swoop in and #$%$ them in seconds. Takeda also (unlike Eisai) has an opt-out clause in their partnership with OREX. Takeda would love to drop OREX and partner with Arena. Seriously, if Eisai somehow figured out how to drop Arena, you are the one that would be BK.
Pfizer asked them to put a temporary hold. Pfizer will fund and use expanded study as sales tool like they did with Lipitor.
Even with Zocor, Pravachol and Mevacor all going generic several years ago, and AstraZeneca PLC's Crestor joining the market in 2003, Lipitor sales have remained strong. It's the only brand-name drug among the 20 most-dispensed drugs in the U.S., according to data firm IMS Health.
But Pfizer, the world's largest drugmaker by revenue, has struggled to develop another runaway blockbuster. Its bid to create a next-generation statin flamed out in 2007 when it had to abandon heavily touted compound torcetrapib after roughly $800 million in testing, because it raised heart attack and stroke risk.
In recent years, Pfizer has focused on creating other types of drugs.
So Warner-Lambert partnered with much-larger Pfizer Inc., considered the industry's top marketer, first to help fund the expensive late-stage testing of the drug in people and then to promote Lipitor after it was launched. Pfizer bought out Warner-Lambert in 2000 to block two other companies trying to acquire it and get control of Lipitor.
Pfizer benefited from some lucky timing: Lipitor went on sale in 1997, the year the Food and Drug Administration first allowed drug ads targeting consumers.
So Pfizer spent tens of millions on ads, including on the popular drama ER, first urging patients to "Know Your Numbers" and then showing patients discussing how Lipitor helped them get their cholesterol numbers below guideline goals.
Meanwhile, health groups kept lowering the cholesterol targets in national guidelines, making millions more patients good candidates for statin treatment, as new research showed the link between cholesterol levels and consequences such as heart attacks. All those new patients boosted sales for the whole statin class, particularly Lipitor.
The Lipitor promotion team set new standards for a marketing campaign. They repeatedly visited family doctors as well as cardiologists, and blanketed patients with data showing that Lipitor was best at lowering cholesterol. They stressed to doctors nervous about safety that Lipitor's lowest dose worked as well as rivals' highest doses. They gave free samples of the white pills and sometimes bought lunch for the office staff.
In another savvy move, Lipitor was priced below rival drugs.
The company continued research on Lipitor, through this year conducting more than 400 studies, costing roughly $1 billion and including more than 80,000 patients. The studies have shown how Lipitor helped patients with heart problems, diabetes, stroke risk and other conditions, by preventing heart attacks and strokes and reducing plaque buildup in arteries.
Lipitor creator Warner-Lambert, a midsized drugmaker best known for consumer health products including Listerine, Benadryl allergy pills and Halls cough drops, got a late start in what turned into a surprisingly fast-growing market.
Merck & Co. had a decade lead with Mevacor, launched in 1987. By 1994, its successor drug, Zocor, along with Bristol-Myers Squibb Co.'s Pravachol and Novartis AG's Lescol, had crowded the market.
"Those other companies didn't even take us seriously. They didn't think we could be a viable contender," said Adele Gulfo, then head of cardiovascular marketing at Warner-Lambert Co. who now heads Pfizer's primary care drugs business.
Doctors said they were "quite satisfied with the medicines we have," she recalled recently.
Given that, marketing executives at Warner-Lambert were projecting Lipitor sales of $300 million a year at best, recalls the drug's inventor, chemist Bruce Roth.
"I wish someday you guys could make us a drug we could sell," the marketers told his team, recalls Mr. Roth, a research vice president for Genentech, a biotech pioneer now owned by Swiss drugmaker Roche.
They had, but didn't see it.
"There was a lot of controversy at Warner-Lambert as to whether we should even take our molecule into the clinic" for human testing, Mr. Roth says. "It was kind of a big risk. ... It's millions of dollars."
But senior management was persuaded in 1990 to at least fund the initial round of testing on a couple of dozen employee volunteers.
(AP) -- Lipitor, the best-selling drug in the history of pharmaceuticals, is the blockbuster that almost wasn't.
When it was in development, the cholesterol-lowering medicine was viewed as such an also-ran it almost didn't make it into patient testing.
By the time Lipitor went on sale in early 1997, it was the fifth drug in a class called statins that lower LDL, or bad cholesterol. The class already included three blockbusters, drugs with sales of $1 billion a year or more. Normally, that would make it very tough for a latecomer to sway many doctors and patients to switch.
But a 1996 study showed Lipitor reduced bad cholesterol dramatically more than the other statins, from the very start of treatment and even more so over time. A striking graph of those results helped Lipitor sales representatives turn it into the world's best-selling drug ever, with more than $125 billion in sales over 14.5 years.
Nicknamed "turbostatin," Lipitor became the top-selling statin barely three years after it was launched. It's provided 20% to 25% of Pfizer Inc.'s annual revenue for years.
But after nearly a decade as the top-selling drug, Lipitor is set to be toppled in 2012 after getting its first generic rivals four weeks ago.
Pfizer has been in talks with Eisa and Eisai cannot reveal what is going on to Arena. Meanwhile Blackrock is accumulating and has acted on their behalf before. Also enrollment frozen because Pfizer will use their own sources. Pfizer will use these trials to boost sales exactly as they did with WL It would sure scare me if I were management and my share price was dirt cheap.
They all took the same dive as ARNA at same time. This was nothing company specific for ARNA. Once again I want to thank all you weak holders and nervous nellies and Stupidos who use "stops" for giving me your shares today.
I actually expect Pfizer to pay for this study like they they did when they acquired Lipitor. Their negotiations may be why part of the enrollment is temporarily frozen. (along with some of the language in 8-K) This is a 5 year study and Arena pays 10% and Eisai pays 90%. That means it will cost ARNA less than $4 million a year, which is chump change. This study also includes a study to evaluate whether lorcaserin reduces conversion to type 2 diabetes
Insiders at Pfizer own only .02% of their company. That's 2/100 of 1% for you math challenged shorts.
The Fed will come out this weekend or Monday morning and make a more definitive clarifying statement pushing back timeline on rate hikes (and this may be coordinated with an EU statement), and market will take off like a rocket. I bought a bunch of SSO at the close.
Even that extreme Seeking Alpha article written by a shortseller said they have enough cash for 2 more years. If you remember that's exactly what my figures show (and I based them on the extreme and incorrect assumption that their sales show no further increase). You'll be dead by then.
That FOIA request says right on the reply that it should not be considered to indicate an investigation.
It had nothing to do with 8-K. I'm sure a few idiots sold/shorted that didn't understand it, but in general it was the membership in the ETF's that took ARNA down earlier. Look at the charts. Symphony was excellent today. Those 5 million new shorts must cover and will run this above $5.