Arena Pharmaceuticals, Inc., a biopharmaceutical company developing oral medications that target G-protein-coupled receptors, announced that its wholly owned subsidiary, Arena Pharmaceuticals GmbH, has entered into an exclusive marketing and supply agreement for Belviq (lorcaserin HCl) with Teva Pharmaceutical Industries Limited's local Israeli subsidiary, Abic Marketing Limited.
Under the agreement, Arena granted Abic the rights to market and distribute Belviq in Israel for weight loss or weight management in obese and overweight patients, subject to regulatory approval by the State of Israel Ministry of Health (MOH).
"Founded in Israel in 1901, Teva is the leading pharmaceutical company in the Israeli market," said Jack Lief, Arena's president and chief executive officer. "Their local presence and proven commercialization expertise are important factors toward making Belviq available in Israel as a new treatment option for chronic weight management."
Steadily rising obesity rates is a well-known phenomenon in western countries, and Israel is no exception. The number of overweight and obese Israelis has nearly tripled between 1967 and 2003. In 2011, the MOH estimated that approximately 48 per cent of the population is overweight or obese.
Abic is responsible for regulatory approval and, ultimately, marketing and distribution of Belviq in Israel, including related costs and expenses. Arena will manufacture finished drug product at its facility in Switzerland, which it will sell to Abic at a purchase price equal to a percentage of Abic's annual net sales of Belviq . In addition, Arena will receive an upfront payment, and is eligible to receive milestone payments upon regulatory submission and regulatory approval of Belviq as well as one-time purchase price adjustment payments based on Abic's annual net sales.
Belviq is believed to decrease food consumption and promote satiety by selectively activating serotonin 2C receptors in the brain. Activation of these receptors may help a person eat less and feel full after eating smaller amounts of food.
Arena has previously granted exclusive marketing and distribution rights for Belviq to Eisai Inc. along with its parent company Eisai Co., Ltd., for most territories worldwide, to Ildong Pharmaceutical Co., Ltd., for South Korea, and to CY Biotech Company Limited for Taiwan. Composition of matter patents for Belviq are issued in major jurisdictions globally that, in most cases, are capable of continuing into 2023.