Drug firm Arena Pharmaceuticals have confirmed that they have struck a multi-million pound deal with Japanese firm Eisai Inc to fund the commercialisation of their new slimming medication, Lorcaserin.
Arena is hoping that Lorcaserin could be the first of their products to go on sale and are hopeful that the FDA will grant approval for the medication. They are expecting the FDA’s panel to review the drug in mid-September and make a final ruling at the end of January 2011.
The company recently revealed the results from late-stage trials into the drug, which saw 47% of those taking the medication lose at least 5% of their body-weight, compared with 23% in those who were given the placebo.
The drug, one of a few expected to go on sale in coming years, works by sending messages to the brain that promote feelings of fullness and satiety, reducing appetite and helping obese patients eat less.
The new deal with the Japanese firm will see Eisai gain the rights to sell Lorcaserin in the U.S, for which they paid $50 million upfront. Arena could also receive large-scale payouts if they gain approval from regulators and further sums dependent on the level of future sales.