Arena Files for European Drug Review (ARNA, VVUS, OREX)

Health and Healthcare

Published: March 26, 2012 10:42 am

Drug maker Arena Pharmaceuticals Inc. (NASDAQ: ARNA) announced that its application to sell its lorcaserin weight-loss drug in Europe has been accepted by the Europe Medicines Agency. This is the first step toward a full review of the drug’s acceptability for the European market.

The company also said that it had scheduled a meeting with the US Food and Drug Administration for May 10th to discuss resubmission of the company’s new drug application in the US. Lorcaserin is one of three weight-loss drugs currently in the mix for FDA approval. Qnexa from Vivus Inc. (NASDAQ: VVUS) and Contrave from Orexigen Therapeutics Inc. (NASDAQ: OREX) are the others.

Arena’s shares are up nearly 17% this morning, at $2.81 after posting a new 52-week high of $2.88 earlier. The 52-week low is $1.21.

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.