Arena Pharmaceuticals shares rise on weight loss drug patent

April 7, 2015 2:58 PM

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Shares of Arena Pharmaceuticals rose Tuesday after the drug developer said it received an additional patent for its weight loss drug Belviq.

Arena and its partner Eisai said patent approval was granted from the US Patent and Trademark Office. The patent can prevent other companies from producing a similar drug. The patent is expected to last until 2033, Arena CEO Jack Lief said in a written statement.

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