This was Coats big biz development play. The only asset of theirs that was valueless and Eisai buys it outright. You can’t make this shit up. He’s such a fucking idiot.
Arena, completing its turnaround, sells to Pfizer for nearly $7 billion | BioPharma Dive
“Arena is perhaps best known for winning approval of an obesity drug known as Belviq in 2012. Belviq was one of three obesity drugs to reach the market in the U.S. early last decade, and each of them struggled commercially. Vivus and Orexigen Therapeutics, the developers of the two other drugs, both eventually filed for bankruptcy. Arena shares bottomed out at less than $14 apiece in 2016.
The company has since found a second life, however. It cut its losses by selling Belviq to partner Eisai in January 2017 — three years before a post-marketing study linked the medicine to higher rates of cancer. In the meantime, Arena put its resources behind etrasimod and other medicines for inflammation, cardiovascular diseases, skin conditions and more.”
Arena, completing its turnaround, sells to Pfizer for nearly $7 billion | BioPharma Dive
“Arena is perhaps best known for winning approval of an obesity drug known as Belviq in 2012. Belviq was one of three obesity drugs to reach the market in the U.S. early last decade, and each of them struggled commercially. Vivus and Orexigen Therapeutics, the developers of the two other drugs, both eventually filed for bankruptcy. Arena shares bottomed out at less than $14 apiece in 2016.
The company has since found a second life, however. It cut its losses by selling Belviq to partner Eisai in January 2017 — three years before a post-marketing study linked the medicine to higher rates of cancer. In the meantime, Arena put its resources behind etrasimod and other medicines for inflammation, cardiovascular diseases, skin conditions and more.”