ARTICLE | Company News

Arena pharmaceuticals news

November 16, 2015 8:00 AM UTC

Arena will reduce its U.S. workforce by about 80 (35%) by year end and make additional undisclosed cuts at its Arena Pharmaceuticals GmbH Swiss manufacturing facility. The cuts were brought on by lower than expected sales of weight-loss drug Belviq Iorcaserin, a serotonin (5-HT2C) receptor agonist. Eisai Co. Ltd. (Tokyo:4523, Tokyo, Japan), which has worldwide rights to the drug outside of South Korea, Taiwan, Australia, New Zealand and Israel, recorded Y2.6 billion ($21.6 million) in Belviq sales for the six months ended Sept. 30, a 5% decrease from the same time period in 2014.

Arena said it will focus on APD334, ralinepag and APD371. APD334, a sphingosine 1-phosphate receptor 1 ( S1PR1; S1P1; EDG1) agonist, is in Phase II testing for ulcerative colitis (UC); ralinepag, a prostacyclin (IP) receptor (PGI2) agonist, is in Phase II testing for peripheral arterial hypertension (PAH); and APD371, a cannabinoid CB2 receptor (CNR2) agonist, is in Phase I testing for pain. ...