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-- that you know the statistic there are more than half a billion people globally who were considered obese today in the US.
The annual medical burden of obesity represents about 10% of all medical spending billions and billions.
Last June the FDA approved its first weight loss drug bill -- more than a decade.
Joining us now Jack -- -- Arena Pharmaceuticals co-founder who puts out this drug.
And chairman and CEO.
He's also -- joined by -- coats.
-- size America's CEO and president it is wonderful to have you both because we should mention Lionel you're company's going to be distributing it.
And of course Jack it's your company that's making it -- will begin with you Jack.
What does this drug due to make morbidly obese and obese people who might be watching right now lose the weight how does it work.
Well they'll peak is -- drug that weeks we.
Discovered and developed very selective agent.
That allows patients to be less hungry.
And because they're less hungry.
They can be more successful.
In their diving program so in our clinical trials which involved.
But 8000 patients some for up to two years.
We find that patients on bill week or two to four times more successful.
-- losing weight and achieving their goal as patients on placebo very exciting time for us.
How what is the cost because it it is not cheap I know about much but what will it cost people to take -- struck and as I understand that they do have to take it for the rest of their lives is that correct term to maintain the weight loss.
Well -- don't think is approved for chronic weight management.
And as far as the cost is concerned I know it's a -- has done a lot.
Of work researching the cost and I'm gonna let when they'll tell you about the value of bill -- relative to the cost.
-- -- -- we just put up 200 dollars up -- What would -- -- provide you tell me what is the cost -- lives -- 200 houses to average wholesale price and certainly there's many different factors that go into the actual retail price so -- 200 per -- About 200 dollars per month talk.
So there'll be different factors -- go into the actual retail price.
So let me just say every time days I go to put a product into the marketplace we always we always conscious that -- may.
Not being the force from our medicine so therefore patients go -- to our -- LB dot com you'll find there is a plethora of opportunities that they can now.
Find out coupons as well as savings cards that we can help them defray some of the cost.
Or if that's not appropriate patients can call 1855.
They'll be one and will also help to try to find -- ameliorate their.
Cost and all how are you going to market district differently it is obviously.
-- very important development certainly the first at the FDA had approved in the weight loss space in the decade.
So what will you be doing just stepped up to the plate to make sure that it's distributed in the most efficient and best way.
Well I think there's three very important things we have to do number one we have to get to the providers who.
Need to be well educated on how best used LVQ what's right type of patients -- used pelvic for.
In our case we think about patients were committed to diet and exercise.
Augmented by phone call therapy such as -- Secular we need to get to the payers to make sure we make the argument that don't speak.
Will be appropriate for patients to use to reduce their weight control the weight over time which awfully -- helped to improve their overall health.
Jack can you get insurance to step up and pay for some of this because they traditionally don't spend money they do not cover.
Weight loss attempts.
It's a very very cost effective you see that the the cost to to our health care system in this country.
Is very large show 150 billion dollars or some estimates of about 200 billion dollars.
And that's just the direct cost that doesn't include lost time from work core.
Or any of the other cost so so here we have the opportunity to give patients.
A way to achieve better health.
While controlling their weight very exciting time.
I would think so but it did took quite.
Some time to get to this exciting time you were approved about a year ago and because it took so long for you guys to get it on to the doctor shelves and -- the doctor's ability to really see it as an opportunity.
Why is that because it gave competitor businesses -- it gave them an opportunity to get their drug out there even though it was approved after yours.
-- so we were waiting for four.
For the DA to provide -- -- Go ahead to move move this onto pharmacy shelves having said that.
The FDA did not impose any safety.
Restrictions on -- -- so we believe that they'll -- -- these safety profile as well as the efficacy profile.
That patients and physicians and need to address this growing epidemic in this country.
We're now what do you say on the website about the side effects of this what our -- and how do you mitigate the issues there sure that -- a common side effects are GI related.
I even more importantly we will contain -- look for any -- opportunities to address -- issues of patients may have.
Whipped through the doctor's offices but more importantly I think the fact the bill because now available.
Doctors and patients who have the opportunity to evaluate the drug directly for themselves.
When Al -- of -- -- and Jack -- of Arena Pharmaceuticals.
And we wish you the best we love drug development it's a great story it's a great business suffered and will be following it very closely thanks to you about.
Thank you say thank.
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