Will a new weight loss drug be approved in 2012?

Here we are, two months into 2012 and the FDA has another opportunity to approve a new drug to help fight obesity. Will this be a déjà vu event from 2010 or will we witness a turn in the hallways of the FDA that there are some acceptable risks in the name of weight loss? Obesity treatments remain the largest unmet medical need in all of pharma and a new option for physicians could lead to billions in revenue. So will either Vivus' (VVUS) Qnexa or Arena's (ARNA) Lorcaserin be approved in 2012?

On Wednesday, February 22nd, Vivus will face a second Advisory Committee for its weight loss drug - Qnexa. Last week, we received insight from the FDA on how it may be viewing the approvability of the drug and there are still some obstacles for Vivus to overcome.