Arena Pharmaceuticals (ARNA) investors have something to celebrate on Jan. 24. The $1.2 billion deal with United Therapeutics (UTHR) has cleared the HSR regulatory review and is now closed. With the closing, Arena received its non-refundable, up-front cash payment of $800 million. There are also $400 million in milestones on the table, as well as ongoing royalties once the product launches.
United Therapeutics struck a deal with Arena for its PAH drug Ralinepag. That deal was announced in mid-November. United very likely sees Ralinepag as its flagship PAH product going forward. The drug is in