Will Qnexa Be The Miracle Diet Pill?
Vivus’ new weight loss drug Qnexa, has been shown to significantly reduce body fat, according to two new studies.
One study which involved 3700 obese participants, saw on average, a 14 percent decrease in body fat in patients given the drug. Study participants also saw improvement in blood pressure and diabetes risk factors.
A second study showed weight loss of about 13.2 percent. In both studies, patients taking placebo lost less than 3 percent of their weight.
“Obesity is one of the last true, broad-based consumer markets where you can get significant revenue,” analyst Michael King tells Bloomberg. A drug that can spur 10 percent weight loss would have a big impact on a market that could potentially be worth $10 billion, a figure that has helped lure Orexigen Therapeutics and Arena Pharmaceuticals into the race for a new therapy.
President and CEO of Vivus Inc. Leland Wilson, said his company would apply for drug approval from the FDA by the end of the year and that they are looking for a major pharmaceutical partner.
On Wednesday, Vivus stock climbed as much as 77 percent to $12.21 in Nasdaq Stock Market composite trading, and traded at $12:08 at 9:49 a.m.
