VIVUS, Inc. (NASDAQ:VVUS)a biopharmaceutical company developing and commercializing innovative, next-gen treatments to address unmet needs in sexual health and obesity reported 3Q2015 financial results and provided a business update. Seth H. Z. Fischer, the CEO said that the U.S. market for leading anti-obesity pharmacotherapeutics continues to progress at a considerably lower rate than projected, held in check by numerous factors.
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The CEO of VIVUS reported that they observed this trend closely while managing the costs during 1H2015. In August 2015, the company reduced Qsymia sales force to 50 territories and further streamlined its headquarters staff.
The objective of this restructuring process was to align the resources with obesity market facts and the opportunity as it exists, and to bring company closer to achieving positive or neutral operating cash flows by end of 2016. Going forward, VIVUS will continue to observe market conditions for any promising developments with payors, patients and physicians that may suggest an increased investment is required.
Fischer further stated that they are working with pioneer cardiovascular outcome study experts in designing major revisions to the original format and execution of the FDA-needed Qsymia CVOT known as ‘AQCLAIM,’ with an objective of minimizing costs and fulfilling the requirement of validating the cardiovascular safety of Qsymia in long-term.
VIVUS team met earlier in 2015 with the FDA to offer a CVOT plan update. This dialog is under process, and the management is committed to involving the U.S. FDA in assessing alternative proposals meeting the requirements. The company is actively pursuing a commercial deal for avanafil in Latin America, and it intends to make report the partnership as soon as deal is finalized.
VIVUS, Inc. (NASDAQ:VVUS) is delighted with the plans being implemented currently by its SPEDRA™ and STENDRA® commercialization partners to support the fifteen-minute onset of action data as a major part of their promotional campaigns.