Arena Pharmaceuticals Establishes BELVIQ® (lorcaserin HCl) Marketing and Supply Agreement with Ildong Pharmaceutical for South

   Arena Pharmaceuticals Establishes BELVIQ® (lorcaserin HCl) Marketing and
         Supply Agreement with Ildong Pharmaceutical for South Korea

-- Arena to Receive 35-45% of Ildong's Net Sales Following Regulatory Approval
and Launch of BELVIQ for Treatment of Obese and Overweight Patients in South
Korea --

-- Conference Call and Webcast Scheduled for Today at 5:00 p.m. Eastern Time
--

PR Newswire

SAN DIEGO, Nov. 6, 2012

SAN DIEGO, Nov. 6, 2012 /PRNewswire/ --Arena Pharmaceuticals, Inc. (NASDAQ:
ARNA) today announced that its wholly owned subsidiary, Arena Pharmaceuticals
GmbH, has entered into a marketing and supply agreement with Ildong
Pharmaceutical Co., Ltd., for BELVIQ^® (lorcaserin HCl). Under the agreement,
Arena granted Ildong exclusive rights to market and distribute BELVIQ
(pronounced "BEL-VEEK") in South Korea for weight loss or weight management in
obese and overweight patients, subject to regulatory approval of BELVIQ by the
Korea Food and Drug Administration (KFDA).

"We are continuing to execute on our vision to broaden the availability of
BELVIQ for patients and physicians by establishing collaborations that support
the drug's development, approval and commercialization in additional
territories worldwide," said Jack Lief, Arena's President and Chief Executive
Officer. "We are excited to work with Ildong, a leading Korean pharmaceutical
company, to bring this novel weight-loss drug to patients who can benefit from
treatment."

Arena will receive from Ildong an upfront payment of $5 million, and an
additional $3 million upon the approval of BELVIQ by the KFDA. Ildong is
responsible for the development, regulatory approval and, ultimately,
marketing and distribution of BELVIQ in South Korea, including related costs
and expenses. Arena will manufacture BELVIQ at its facility in Switzerland,
and sell BELVIQ to Ildong for a purchase price starting at 35% of Ildong's
annual net sales. The purchase price will increase on a tiered basis up to 45%
on the portion of annual net sales exceeding $15 million.

"It is a great pleasure to establish this collaboration with Arena for BELVIQ,
a new molecular entity that is the product of their research and development
expertise," said Jung-chi Lee, Ildong's Chairman and Chief Executive Officer.
"We have high expectations that BELVIQ will become a key treatment option for
patients in Korea and help address the unmet medical need for obesity drugs."

Scheduled Conference Call and Webcast

Arena will host a conference call and webcast to provide a corporate update
today at 5:00 p.m. Eastern Time (2:00p.m. Pacific Time). The conference call
may be accessed by dialing 877.643.7155 for domestic callers and 914.495.8552
for international callers. Please specify to the operator that you would like
to join the "Arena Pharmaceuticals' Corporate Update." The conference call
will be webcast live under the investor relations section of Arena's website
at www.arenapharm.com, and will be archived there for 30 days following the
call. Please connect to Arena's website several minutes prior to the start of
the broadcast to ensure adequate time for any software download that may be
necessary.

About Obesity in South Korea

According to a Korea National Health and Nutrition Examination Survey
(KNHANES), in 2007 to 2009 approximately one-third of the adult population in
South Korea were classified as obese, which is defined by South Korea's
obesity standard of body mass index >25 kg/m^2. The total cost of obesity in
South Korean adults is estimated at $1.3 billion per year.

About BELVIQ^® (lorcaserin HCl)

BELVIQ ^ (pronounced "BEL-VEEK") is believed to decrease food consumption and
promote satiety by selectively activating serotonin 2C receptors in the brain.
Activation of these receptors may help a person eat less and feel full after
eating smaller amounts of food.

About Arena Pharmaceuticals

Arena Pharmaceuticals is a biopharmaceutical company focused on discovering,
developing and commercializing novel drugs for weight management,
cardiovascular disease, inflammation and other disorders. BELVIQ^® (lorcaserin
HCl), Arena's internally discovered drug, was approved by the US Food and Drug
Administration in June 2012, and is under review for regulatory approval in
additional territories. Arena's US operations are located in San Diego,
California, and its operations outside of the United States, including its
commercial manufacturing facility, are located in Zofingen, Switzerland. For
more information, visit Arena's website at www.arenapharm.com.

Arena Pharmaceuticals^® and Arena^® are registered service marks of Arena
Pharmaceuticals, Inc. BELVIQ^® is a registered trademark of Arena
Pharmaceuticals GmbH.

About Ildong Pharmaceutical Co., Ltd.

Ildong Pharmaceutical Co., Ltd., based in Seoul, Korea, is a leading Korean
company focused on the development, manufacturing and marketing of
pharmaceuticals and OTC products with sales of $294 million in 2011. Ildong,
founded in 1941, is known to have leading expertise in various therapeutic
categories, including antibiotics, gastrointestinal, anti-diabetics,
cardiovascular and oncology. For more information, visit Ildong's website at
www.ildong.com.

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 the advancement, therapeutic indication and use,
safety, efficacy, mechanism of action, regulatory review and approval,
commercialization and potential of BELVIQ; rights and obligations under the
marketing and supply agreement with Ildong and the significance of such
agreement; expectations and future activities related to such agreement,
including the development, regulatory approval of BELVIQ, manufacture and sale
of finished product, upfront, milestone and other payments, and
commercialization of BELVIQ in South Korea; executing on Arena's vision;
broadening the availability of BELVIQ; establishing collaborations that
support BELVIQ's development, approval and commercialization in additional
territories worldwide; bringing a novel weight-loss drug to patients; the use
of BELVIQ by patients and physicians and the benefit to patients; the need for
obesity treatments and BELVIQ's impact on such need; and Arena's vision,
efforts, focus, goals, strategy, research and development programs, and
ability to discover and 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: risks related to the implementation and continuation of the
marketing and supply agreement with Ildong and dependence on collaborators;
risks related to commercializing drugs, including regulatory, manufacturing
and supply issues and the pace of market acceptance; cash and revenues
generated from BELVIQ, including the impact of competition; the timing and
outcome of regulatory review is uncertain; government and commercial
reimbursement and pricing decisions; risks related to relying on collaborative
arrangements; the timing and receipt of payments and fees, if any, from
collaborators; the entry into or modification or termination of collaborative
arrangements; 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 may not meet safety, efficacy or other regulatory requirements or
otherwise be sufficient for further research and development, regulatory
review or 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.

Contact: Arena Pharmaceuticals, Inc.     Media Contact: Russo Partners
Cindy McGee, Vice President              David Schull, President
Investor Relations & Alliance Management david.schull@russopartnersllc.com
cmcgee@arenapharm.com                    858.717.2310
858.453.7200, ext. 1479
www.arenapharm.com



SOURCE Arena Pharmaceuticals, Inc.

Website: http://www.arenapharm.com
 
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