Drug developers plump up
By CHIP CUTTER
Companies that make drugs to help people lose weight posted fat share gains earlier this week.
Stocks of three obesity drug developers surged after the start of a medical conference Monday. The companies – Arena Pharmaceuticals, Orexigen Therapeutics and Vivus – have all presented successful clinical study results this year.
Vivus said patients who took its drug lost about 11 percent of their body weight. Arena said its drug helped people lose a greater proportion of their excess weight than patients who took a dummy pill. And Orexigen said diabetes patients who used its drug were better able to control eating and resist cravings for food.
None of the companies have requested formal approval for the drugs, however, and stocks of drug developers can be highly volatile.
For the day, Arena’s stock rose TK cents, or TK percent, to $TK, while Orexigen shares fell TK cents to $TK. Vivus shares dropped TK, or TK percent, to $TK.
DATA: Thomson Reuters
Associated Press
