Obesity Gets Some Respect (ARNA) (VVUS) (OREX)
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Shares of obesity drug makers Arena Pharmaceuticals (NASDAQ: ARNA), VIVUS (NASDAQ: VVUS) and Orexigen (NASDAQ: OREX) are higher Wednesday after the American Medical Association officially recognized obesity as a disease.
"Recognizing obesity as a disease will help change the way the medical community tackles this complex issue that affects approximately one in three Americans," Dr. Patrice Harris, a member of the association’s board, said in a statement.
Investors in obesity drug makers see the new classification as a positive.
Arena launched its obesity drug, BELVIQ, in the United States, on June 11th. BELVIQ is approved by the FDA for use as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index (BMI) of 30 kg/m2 or greater (obese), or 27 kg/m2 or greater (overweight) in the presence of at least one weight-related comorbid condition (e.g., hypertension, dyslipidemia, type 2 diabetes).
VIVUS's Qsymia has been on the market since September 2012. In the first quarter of 2013, net product revenues from sales of Qsymia were $4.1 million. This was double the $2 million in Qsymia sales in the fourth quarter of 2012.
Orexigen's Contrave completed Phase 3 clinical trials and submitted a New Drug Application to the FDA. The Company has also reached agreement with the FDA on a Special Protocol Assessment (SPA) for the Light Study, the Contrave cardiovascular outcomes trial.
Shares of Arena up 0.5%, VIVUS is up 1.8% and Orexigen is up 0.2%.
"Recognizing obesity as a disease will help change the way the medical community tackles this complex issue that affects approximately one in three Americans," Dr. Patrice Harris, a member of the association’s board, said in a statement.
Investors in obesity drug makers see the new classification as a positive.
Arena launched its obesity drug, BELVIQ, in the United States, on June 11th. BELVIQ is approved by the FDA for use as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index (BMI) of 30 kg/m2 or greater (obese), or 27 kg/m2 or greater (overweight) in the presence of at least one weight-related comorbid condition (e.g., hypertension, dyslipidemia, type 2 diabetes).
VIVUS's Qsymia has been on the market since September 2012. In the first quarter of 2013, net product revenues from sales of Qsymia were $4.1 million. This was double the $2 million in Qsymia sales in the fourth quarter of 2012.
Orexigen's Contrave completed Phase 3 clinical trials and submitted a New Drug Application to the FDA. The Company has also reached agreement with the FDA on a Special Protocol Assessment (SPA) for the Light Study, the Contrave cardiovascular outcomes trial.
Shares of Arena up 0.5%, VIVUS is up 1.8% and Orexigen is up 0.2%.
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