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Arena Pharma Investors: DEA, Hedge Funds Conspiring To Destroy Belviq

TheStreet – Some of Arena Pharmaceuticals’ retail-investor shareholders accuse the U.S. Drug Enforcement Agency of conspiring with Wall Street hedge funds to delay the commercial launch of the company’s weight-loss pill Belviq.

The DEA is collecting public comments on its proposed rule making Belviq a Schedule IV controlled substance. The 30-day comment period ends on Jan. 18, after which DEA will finalize its ruling. After another 30-day waiting period, the rule becomes effective and Arena’s marketing partner Eisai can start selling Belviq and begin to compete against Vivus’ Qsymia.

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