After receiving FDA approval, GlaxoSmithKline PLC will begin selling an over-the-counter version of the weight-loss drug, Xenical (orlistat), sometime this summer. The 60-milligram capsule will be marketed under the name, Alli, and is expected to cost about $1-$2 a day.

It will only be about half the strength of the prescription version of the drug.

Alli is only for people 18 years and older. It should be used in conjunction with a low-fat, reduced-calorie diet and exercise.

Apparently, by itself, it won’t do much for you.

Six-month clinical trials of the drug showed that obese people lost about 1 extra pound a month. Not a week, a month. That’s not much to write home about.

Especially when you consider the potential side effects.

Supposedly, gastrointestinal side effects are common with orlistat. These include explosive diarrhea, fecal incontinence, abdominal cramping, anal leakage and oily discharge.

Basically, it sounds like you’ll need adult diapers or you could be walking around with soiled pants. I can’t imagine that will smell too pleasant, either.

The drug may also reduce the absorption of fat-soluble vitamins (A, D, E and K) and beta-carotene. I’ve talked about how risky this can be in “Low-Fat Diets: The Hidden Dangers.”

There are other potential side effects as well. For example, I believe that diabetics and people on immunosuppressant drugs are not supposed to take orlistat. But you should check with your doctor.

Is losing an extra pound a month worth the potential side effects? Is this just a way of preying on the desperation of obese people?

Maybe I’m missing the true benefit of the drug. But from what I’ve read, in my opinion, this sounds like an accident waiting to happen. (And I don’t mean the fecal kind.)