Israël – Arena Pharma in deal with Teva unit for marketing Belviq in Israël

July 23, 2014 3:32 pm0 commentsViews: 36

Source : Google

USA-based Arena Pharmaceuticals (Nasdaq: ARNA) has entered into an exclusive marketing and supply agreement for its obesity drug Belviq (lorcaserin) with Teva Pharmaceutical Industries’ (NYSE: TEVA) subsidiary, Abic Marketing.
Under the terms of the deal, 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, adding: “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% of the population is overweight or obese.

ABIC TO UNDERTAKE REGULATORY APPROVAL OF BELVIQ

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.
Arena has previously granted exclusive marketing and distribution rights for Belviq to Eisai for most territories worldwide, to Ildong Pharmaceutical for South Korea, and to CY Biotech for Taiwan. Composition of matter patents for Belviq are issued in major jurisdictions globally that, in most cases, are capable of continuing into 2023. After a long delay in gaining US Food and Drug Administration approval, Belviq finally launched in the USA by Eisai last year.

[Source : thepharmaletter]

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