Sector Snap: Obesity drug makers gain ground

Obesity drug makers Vivus and Arena move higher after presenting studies at conference

• By Marley Seaman, AP Health Writer
• On 3:09 pm EDT, Monday October 26, 2009

NEW YORK (AP) -- Shares of three obesity drug developers moved higher Monday as the companies presented further information about their drug candidates at a medical conference.

Arena Pharmaceuticals Inc., Orexigen Therapeutics Inc. and Vivus Inc. have all presented successful clinical study results from their drugs this year, and traded higher at the start of the Scientific Meeting of The Obesity Society. Vivus was the top gainer of the three in afternoon trading, rising 67 cents, or 7.3 percent, to $9.83.

Vivus said patients who took its drug candidate, Qnexa, lost about 11 percent of their body weight. It showed the weight loss was consistent regardless of the patients' body mass index reading at the start of the trial: patients who were morbidly obese lost about the same percentage of their weight as patients who were moderately obese.

Arena said patients who took its drug lorcaserin lost a greater proportion of their excess weight than patients who took a dummy pill. Subjects in the lorcaserin group also had better control of their blood sugar and insulin levels, and reported better self esteem and health.

Orexigen presented new data from three late-stage trials of its drug Contrave. It said diabetes patients who took Contrave had greater reductions in blood sugar levels compared to patients who took a placebo, and said patients were more able to control eating and resist cravings for food.

None of the companies have officially requested regulatory approval for their drugs. Vivus expects to do so by the end of 2009 and Orexigen plans to file for marketing approval for Contrave in early 2010.

In afternoon trading, Arena stock rose 13 cents, or 3 percent, to $4.47, and Orexigen shares fell 2 cents to $7.63.

Buzz up!