Arena subsidiary inks marketing, supply deal with Abic for BELVIQ in Israel

As part of the deal, Abic secured 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).

Arena president and chief executive officer Jack Lief said founded in 1901, Teva is the leading pharmaceutical company in the Israeli market.

"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," Lief said.

Under the deal, Abic is responsible for regulatory approval and, ultimately, marketing and distribution of BELVIQ in Israel, including related costs and expenses, while Arena will manufacture finished drug product at its Switzerland facility, which it will sell to Abic at a purchase price equal to a percentage of Abic’s annual net sales of BELVIQ.

Additionally, Arena will receive an upfront payment and is also 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 expected to reduce food consumption and promote satiety by selectively activating serotonin 2C receptors in the brain.

The company said that activation of the receptors may help a person eat less and feel full after eating smaller amounts of food.