November 23, 2012
Even after beating its competitors to market with its weight loss drug Qsymia, Vivus (Nasdaq: VVUS ) sales have left investors wanting. At roughly $160 per month, the price was causing a 30% abandonment rate with patients. But now, a revised Aetna (NYSE: AET ) clinical policy bulletin deemed weight loss drugs Qsymia and Arena Pharmaceutical's (Nasdaq: ARNA ) Belviq as medically necessary, potentially expanding coverage, and consequently boosting both initial sales and continued use of the drug for many patients. The announcement has caused share prices of several drug makers in this space to jump.
Editors Note: In this video, it is implied that drugs by GlaxoSmithKline and Pfizer were also added to Aetna's clinical policy bulletin, when they were already listed.
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