Arena Pharmaceuticals, Inc (NASDAQ:ARNA) Increases Sales Reps
On Tuesday, Arena Pharmaceuticals, Inc (NASDAQ:ARNA) announced that Eisai will now double the number marketing reps who are involved in the marketing of Belviq, the weight-loss drug. The sales force will now be increased by 200 contract-reps and the total number of sales personnel involved in the marketing and sales of this slimming prescription drug will be taken to a count of almost 400, by December.
Arena Pharmaceuticals, Inc (NASDAQ:ARNA) said that this expansion in its sales team will permit Eisai to cover at least close to 65,000 physicians. The representatives’ will approach hundreds of endocrinologists and primary care doctors amongst others. The announcement that was made on Tuesday by the company cites that there has been a rise in PBM and payer coverage which has led to the boost in sales. However, there was also a research note on 30 September, in which analysts has mentioned that Belviq will require more salespeople to promote it. Though obesity is growing at an alarming pace in the U.S, the awareness that it is curable has to be promoted in a more aggressive manner.
In Tuesday’s trading, Arena Pharmaceuticals, Inc (NASDAQ:ARNA) rose by 5.30%. The opening price of the shares was $4.46, which climbed to an intraday high of $4.75 and dipped to a close of $4.57. Approximately 8.73 million shares were traded on Tuesday while an average volume of 5.38 million shares were traded over a 30 day period. The 52-week low of Arena Pharmaceuticals, Inc (NASDAQ:ARNA) shares is $4.20 and its 52-week high is $11.00. The company has a market capitalization of $997.42 billion.
About the company
Arena Pharmaceuticals, Inc (NASDAQ:ARNA) is a bio-pharma company. It focuses on the discovery, development and commercialization of drugs that target the G protein-coupled-receptors. Arena Pharmaceuticals GmbH (Arena GmbH) is its 100%-owned subsidiary. It has granted Eisai Inc BELVIQ commercialization rights in the U.S.