Arena and Eisai have entered into a marketing and supply agreement for $1.796 billion, if all option are exercised.
Arena Pharmaceuticals and Eisai Inc. announced today the expansion of the BELVIQ (lorcaserin HCl) marketing and supply agreement.
The expanded agreement provides Eisai with exclusive commercialization rights for all countries worldwide, except for South Korea, Taiwan, Australia, Israel and New Zealand.
This agreement amends and restates the previous agreement that granted Eisai rights to commercialize BELVIQ in most of North and South America.
Eisai's commercialization rights are subject to applicable regulatory approval.
Arena will receive from Eisai an upfront payment of $60 million.
Is eligible to receive up to a total of $176.5 million in regulatory and development milestone payments.
The total for milestone payments represents an increase of $123 million from the amount remaining available under the previous agreement.
Arena is also eligible to receive a total of $1.56 billion in one-time purchase price adjustment payments based on sales in the territories covered by the agreement.
The total for purchase price adjustment payments represents an increase of $185 million from the amount available under the previous agreement.
BELVIQ is believed to decrease food consumption and promote satiety by selectively activating serotonin 2C receptors in the brain. The exact mechanism of action of BELVIQ is not known.
Read the full article at Arena Pharmaceuticals website.
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