Date: 2014-07-21
Type of information: Commercialisation agreement
Compound: BELVIQ® (lorcaserin HCl)
Company: Arena Pharmaceuticals (USA - CA) Abic Marketing, Teva Pharmaceutical Industries Limited\'s subsidiary (Israel)
Therapeutic area: Metabolic diseases
Type agreement: commercialisation supply
Action mechanism: Belviq® works by activating the serotonin 2C receptor in the brain. Activation of this receptor may help a person eat less and feel full after eating smaller amounts of food.
Disease: weight loss or weight management in obese and overweight patients
Details: * On July 21, 2014, Arena Pharmaceuticals announced that its wholly owned subsidiary, Arena Pharmaceuticals GmbH, has entered into an exclusive marketing and supply agreement for BELVIQ® (lorcaserin HCl) with Teva Pharmaceutical Industries Limited\'s local Israeli subsidiary, Abic Marketing Limited. Under the agreement, Arena granted Abic the rights to market and distribute BELVIQ® in Israel for weight loss or weight management in obese and overweight patients, subject to regulatory approval by the State of Israel Ministry of Health (MOH). Abic is responsible for regulatory approval and, ultimately, marketing and distribution of BELVIQ in Israel, including related costs and expenses. Arena will manufacture finished drug product at its facility in Switzerland, which it will sell to Abic at a purchase price equal to a percentage of Abic\'s annual net sales of BELVIQ. In addition, Arena will receive an upfront payment, and is eligible to receive milestone payments upon regulatory submission and regulatory approval of BELVIQ as well as one-time purchase price adjustment payments based on Abic\'s annual net sales.
Financial terms:
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