Exhibit 99.1

 

 

CONTACT:

 

VIVUS, Inc.

 

Investor Relations:

 

The Trout Group

Timothy E. Morris

 

 

 

Brian Korb

Chief Financial Officer

 

 

 

646-378-2923

650-934-5200

 

 

 

 

 

VIVUS Reports 2010 Fourth Quarter and Full-Year Financial Results

 

MOUNTAIN VIEW, Calif., February 28, 2011

VIVUS, Inc. (NASDAQ: VVUS), a biopharmaceutical company dedicated to the development and commercialization of novel therapeutic products, today reported its highlights and financial results for the fourth quarter and year ended December 31, 2010.

 

2010 Highlights

 

·              In the QNEXA® investigational drug development program, we successfully completed the two-year SEQUEL study, an extension study in 675 patients from the CONQUER study.  Results were announced in September and showed sustained weight loss of greater than 10% for both doses of QNEXA over two years.

 

·              In December, we filed the Marketing Authorization Application, or MAA, to the European Medicines Agency, or EMA, in the European Union for QNEXA as a treatment for obesity. Obesity is a global epidemic, with approximately 150 million European adults affected and the prevalence is rising rapidly.

 

·              In the avanafil investigational drug development program, we completed the two remaining phase 3 studies: in diabetics with erectile dysfunction and the long-term open label safety study.  Both studies met all primary efficacy endpoints. The NDA filing for avanafil is scheduled for Q2 2011.

 

·              We divested MUSE and the related assets to Meda AB for $22 million and are eligible to receive a $1.5 million milestone based upon future sales of MUSE.  The transaction closed on November 5, 2010. In connection with the sale, all of our loans and long-term notes payable were repaid and our MUSE-related royalty obligations were terminated.

 

·              Lastly, we ended the year with $139.2 million in cash, cash equivalents and available for sale securities.

 

VIVUS, Inc. 1172 Castro Street, Mountain View, CA 94040   Tel 650-934-5200   Fax 650-934-5389  www.vivus.com

 


The following information was filed by Vivus Inc (VVUS) on Monday, February 28, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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