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Investing

Weight Loss Drugs Eating Up FDA Approval

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By Jon C. Ogg Updated Published
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The history of weight loss drugs is sketchy at best. But VIVUS Inc. (NASDAQ: VVUS) is making up on all of its recent losses, after shares slid from almost $30 to just under $26.46 at yesterday’s close. The slide was ahead of the FDA decision on final approval of its weight loss drug Qnexa. The drug was given marketing approval and it will be marketed under the name Qsymia.

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) previously won FDA approval for its weight loss drug called Belviq, but VIVUS will get its drug on the market first. Qnexa, or Qsymia, acts as a combination of the appetite suppressant phentermine and the antiseizure drug called topiramate. VIVUS will begin marketing the drug in fourth quarter, while Arena has to wait for DEA classification and likely will not come to market until some time in early 2013.

The drug is expected to reach a blockbuster status ($1 billion or more in annual sales) and will have warnings about heart risks and birth defects. While the warnings seem severe, weight loss also indirectly targets (and can treat) diabetes, hypertension, heart disease, stroke and other ailments tied to obesity.

Orexigen Therapeutics Inc. (NASDAQ: OREX) is currently studying and developing a weight-loss pill called Contrave with Takeda Pharmaceutical Co.

Today is a weight loss and obesity trifecta as far as traders are concerned. VIVUS is up more than 16% at $30.85 (above the 52-week high of $29.99) in premarket trading, while Arena is down 6.7% at $10.30 versus a 52-week range of $1.23 to $13.50. Orexigen is up about 5% at $7.50 so far this morning.

JON C. OGG

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. (“EnergyX”) has engaged 24/7 Wall St to publish this communication in connection with EnergyX’s ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX’s offering materials. EnergyX’s Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.


Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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