Arena Pharmaceuticals, Inc. (ARNA)

[motohead125]

Meridia pulled from market. Probably the reason for the small pop in pps today. Arena's potential competitor out of the game. The safety profile makes Lorcaserin look that much better now.

http://www.reuters.com/article/idCNN0823517320101008?rpc=44



U.S. pulls Abbott's Meridia diet drug off market

Fri Oct 8, 2010 12:16pm EDT

* Abbott to voluntarily comply with FDA request

* Drugmaker still says drug works in certain patients

* Ongoing discussions on Meridia in other countries-Abbott

* FDA to comment later on Friday

WASHINGTON, Oct 8 (Reuters) - U.S. health officials have ordered Abbott Laboratories' (ABT.N) controversial weight loss drug Meridia off the market, and the company said it would comply even though it still thinks the drug is safe.

Abbott, in a statement, said it was in discussions about the fate of Meridia in other countries and expects those talks to end in the coming days.

Meridia has been under fire over its increased risk of heart attack and strokes in certain patients. The U.S. Food and Drug Administration is expected to make an announcement on the drug later on Friday.

While its removal does little to dent Abbott's bottom line -- Abbott saw net sales of $30.8 billion last year but expected just $30 million from U.S. sales of Meridia in 2010 -- it highlights the FDA's concerns about safety issues in obesity drugs and could affect the fate of potential rivals. (Reporting by Susan Heavey; Editing by Derek Caney)