Arena Pharmaceuticals

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Arena Pharmaceuticals
Public (NASDAQARNA)
Industry Biotechnology
Founded 1997
Headquarters San Diego, California, U.S.
Key people

Jack Lief, cofounder
Dominic Behan, co-founder and senior scientist
Amit Munshi, CEO
Kevin Lind, CFO
Products Belviq
Revenue IncreaseUS$27,600,000 (FY 2012)[1]
DecreaseUS$−57,000,000 (FY 2012)[1]
DecreaseUS$−85,500,000 (FY 2012)[1]
Total assets IncreaseUS$261,000,000 (FY 2012)[2]
Total equity IncreaseUS$98,600,000 (FY 2012)[2]
Website www.arenapharm.com

Arena Pharmaceuticals, Inc. is a biopharmaceutical company founded in 1997 and located in San Diego, California.[3] The company has one product on the market and several others in development. In 2016 the company downsized and said it would shift its focus to developing new drugs currently being tested in clinical trials.[4][5]

Products[edit]

The company has one drug on the market, Belviq (lorcaserin), a weight-loss medication. The U.S. Food and Drug Administration (FDA) approved lorcaserin on June 27, 2012. The company commtitted to a sales force commitment of 200.[6] Lorcaserin is approved for use in adults with a body mass index (BMI) of 30 or greater, which is considered obese, or adults with a BMI of 27 or greater and who have at least one weight-related health condition, such as high blood pressure, type 2 diabetes, or high cholesterol. However, sales of Belviq were disappointing. In 2015 the company laid off 80 workers; this was followed in July 2016 by the layoff of another 100 employees (approximately 73% of remaining workforce).[4] In January 2017 Arena announced that it is selling Belviq to its Japanese partner, Eisai Co. Ltd., which will manufacture and market the drug; Arena will draw a royalty on global sales.[7]

The sale completes a pivot in emphasis toward drugs still under development. Drugs in the company's pipeline includes medications designed to treat pain, ulcerative colitis and pulmonary arterial hypertension. As of September 2014, potential products that had not yet been approved by the FDA included Temanogrel (thrombotic diseases), Ralinepag (pulmorary arterial hypertension), APD334 (autoimmune disease), APD371 (pain), and Nelotanserin.[8]

See also[edit]

References[edit]

  1. ^ a b c Arena Pharmaceuticals (ARNA) annual SEC income statement filing via Wikinvest.
  2. ^ a b Arena Pharmaceuticals (ARNA) annual SEC balance sheet filing via Wikinvest.
  3. ^ "Arena Pharmaceutical, Inc." (PDF). Retrieved November 16, 2016. 
  4. ^ a b Meiling, Brittany (July 4, 2016). "Arena Pharmaceuticals Is Slashing Its Workforce 73%". San Diego Business Journal. Retrieved 5 July 2016. 
  5. ^ "Arena Axing 100 Employees, 73% of Workforce". News: Industry Watch (online: GEN News Hightlights). Genetic Engineering & Biotechnology News. 36 (14): 10. August 2016. Retrieved 17 September 2016. 
  6. ^ "FDA approves Belviq to treat some overweight or obese adults" (Press release). US FDA. June 27, 2012. Retrieved January 3, 2014. 
  7. ^ Meiling, Brittany (January 4, 2017). "Arena Pharmaceuticals Bails on Its Weight-Loss Drug". San Diego Business Journal. Retrieved 5 January 2017. 
  8. ^ http://www.arenapharm.com/programs

External links[edit]