Arena Strikes API Deal With Siegfried

Arena Pharmaceuticals has set up a manufacturing arrangement for its antiobesity agent lorcaserin, now in late-stage clinical trials, with the Swiss custom chemical firm Siegfried. Arena will take over Siegfried's finished dosage form plant in Zofingen, Switzerland, for about $40 million in both cash and stock. The San Diego company will retain about 70 Siegfried employees at the site. Under a 15-year supply agreement, Siegfried will manufacture the lorcaserin active pharmaceutical ingredient and other APIs for Arena. It will also provide support services for Arena's production of finished products.