SAN DIEGO, July 5, 2012 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) announced today the promotion of Craig M. Audet to the position of Senior Vice President, Operations and Head of Global Regulatory Affairs. In his new role, Audet will serve as an executive officer of the company.
Audet, 48, will oversee various operations at Arena, including investor relations and alliance management, and will continue to lead regulatory affairs. He joined the company in April 2011 as Vice President, Regulatory Affairs, and has led Arena's interactions with the US Food and Drug Administration (FDA) and European Medicines Agency (EMA). On June 27, 2012, the FDA approved Arena's internally discovered and developed drug, BELVIQ (lorcaserin hydrochloride), as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index (BMI) of 30 kg/m(2) or greater (obese), or 27 kg/m(2) or greater (overweight) in the presence of at least one weight related comorbid condition (e.g., hypertension, dyslipidemia, type 2 diabetes). The lorcaserin Marketing Authorization Application (MAA) is under review by the EMA.
"This promotion recognizes Craig's key role in the FDA's approval of BELVIQ," said Jack Lief, Arena's President and Chief Executive Officer. "We have benefited from his experience and track record of successful regulatory strategies and submissions, and we are delighted that he will play an expanded role in advancing Arena in the next phase of the company's development."
Audet added, "Arena has made significant progress to date, and I am honored to continue working alongside the talented team in this new capacity. It is exciting to be part of an innovative company with both a promising pipeline and validated technology. I look forward to playing a key role at Arena as we continue to build a valuable organization that discovers and develops important new medications for patients."
Audet has more than 25 years of industry experience. Prior to joining Arena, he was Vice President and Head of the US Regulatory Affairs Marketed Products Group at Sanofi-Aventis from 2003 to 2008. Before this, he was the Cardiovascular Global Therapeutic Area Leader at Pfizer. He received a bachelor's degree in biology/pre-medicine from Boston College, and is in the process of obtaining his Ph.D. in Public Health.
About Arena Pharmaceuticals Arena Pharmaceuticals, Inc., is a biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors, an important class of validated drug targets, in four major therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases. For more information about Arena, please visit www.arenapharm.com.
Arena Pharmaceuticals® and Arena® are registered service marks of Arena Pharmaceuticals, Inc. BELVIQ® is a registered trademark of Arena Pharmaceuticals GmbH.
Forward Looking Statements Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about Mr. Audet's role at Arena and related expectations; the EMA's review of the lorcaserin MAA; and Arena's development, value, focus, goals, strategy, research and development programs, and ability to develop compounds and commercialize drugs. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the following: the timing and outcome of DEA, EMA and other regulatory review is uncertain; limitations on the indicated uses, distribution and marketing and other limitations on BELVIQ or, if approved, any of Arena's other drug candidates; risks related to commercializing drugs, including regulatory, manufacturing and supply issues and the pace of market acceptance; cash and revenues generated from BELVIQ, including timing and impact of competition; government and commercial reimbursement and pricing decisions; risks related to relying on collaborative agreements; the timing and receipt of payments and fees, if any, from collaborators; unexpected or unfavorable new data; nonclinical and clinical data is voluminous and detailed, and regulatory agencies may interpret or weigh the importance of data differently and reach different conclusions than Arena or others, request additional information, have additional recommendations or change their guidance or requirements before or after approval; data and other information related to any of Arena's research and development programs may not meet safety, efficacy or other regulatory requirements or otherwise be sufficient for regulatory review, approval or continued marketing; Arena's ability to obtain and defend patents; the timing, success and cost of Arena's research and development programs; results of clinical trials and other studies are subject to different interpretations and may not be predictive of future results; clinical trials and other studies may not proceed at the time or in the manner expected or at all; having adequate funds; and satisfactory resolution of litigation or other disagreements with others. Additional factors that could cause actual results to differ materially from those stated or implied by Arena's forward-looking statements are disclosed in Arena's filings with the Securities and Exchange Commission. These forward-looking statements represent Arena's judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.
SOURCE Arena Pharmaceuticals, Inc.