Arena (ARNA) Higher as Large PBM Joins Obesity Pill Distribution Network (VVUS)

Arena Pharma (Nasdaq: ARNA) shares are looking a little positive early Monday following some encouraging news from peer VIVUS, Inc. (Nasdaq: VVUS).

Earlier on the session, VIVUS said Express Scripts (Nasdaq: ESRX) joined its the Qsymia Certified Home Delivery Pharmacy Network (HDPN). Express Scripts is one of the nation's largest Pharmacy Benefit Managers (PBM).

Given that Qsymia is only available via the HDPN, which is comprised of just CVS Caremark (NYSE: CVS) and Walgreen (NYSE: WAG) currently, the addition of Express Scripts will markedly increased distribution of the obesity pill.

Arena is higher due to the increased coverage, reaffirming some faith in the weight-loss drug segment. Shares are about 0.3 percent higher while VIVUS is up about 2 percent.

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