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Arena Pharmaceuticals receives $500K milestone payment from Eisai

Arena Pharmaceuticals (ARNA) announced that Eisai (ESALY) subsidiary Eisai Limited, based in Mississauga, Ontario, has submitted a New Drug Submission for Belviq (lorcaserin HCl) with Health Canada. Belviq is being evaluated in Canada as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management (including weight loss and weight maintenance) in adult obese or overweight patients in the presence of at least one additional cardiovascular risk factor. In connection with the NDS, Arena will receive a milestone payment of $500K from Eisai.