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Arena Pharmaceuticals Provides Corporate Update and Reports Second Quarter 2013 Financial Results
Date:8/1/2013

SAN DIEGO, Aug. 1, 2013 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) today provided a corporate update and reported financial results for the second quarter ended June 30, 2013.

"We are very encouraged by the positive response from patients and physicians since BELVIQ became available in US pharmacies on June 11," said Jack Lief, Arena's President and Chief Executive Officer. "While it is still early in the launch, the progress made to date reinforces the significant opportunity we see for BELVIQ in the medical management of overweight and obese patients."

Recent Developments:BELVIQ US Launch

  • In June 2013, Eisai launched BELVIQ in the United States.
  • Approximately 12,500 BELVIQ prescriptions have been filled between the availability of BELVIQ in US pharmacies on June 11 and July 19, 2013, according to IMS Health.
  • In the second quarter of 2013, Arena recognized $1.3 million in net product sales, which is 31.5% of Eisai's net product sales of BELVIQ. Arena and Eisai currently recognize revenue of BELVIQ net product sales when Eisai ships product to its wholesalers.
  • Received $65 million in milestone payments from Eisai in connection with the US launch.

    • BELVIQ Rest of World

  • In July 2013, Arena's wholly owned subsidiary, Arena Pharmaceuticals GmbH, and CY Biotech Company Ltd. (CYB) entered into a marketing and supply agreement for BELVIQ in Taiwan. Under the agreement, Arena granted CYB the rights to market and distribute BELVIQ in the territory for weight loss or weight management in obese and overweight patients, subject to regulatory approval of BELVIQ by the Taiwan Food and Drug Administration. Arena received a net upfront payment of $2 million from CYB.
  • Received a $0.5 million milestone payment from Eisai in connection with Eisai Limited's June 2013 New Drug Submission for the marketing
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