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MOUNTAIN VIEW, Calif., May 13, 2013 (GLOBE NEWSWIRE) -- VIVUS, Inc. (Nasdaq:VVUS) (the "Company") today mailed a letter to stockholders providing an update on the Company's recent progress. The full text of the letter follows.
Dear Fellow Stockholder:
I am writing to update you regarding our recent accomplishments. Since Qsymia
® (phentermine and topiramate extended-release) capsules CIV was approved last year, our strategic objectives have been to raise awareness of its benefits among healthcare providers specializing in metabolic disease and to remove barriers to patient access while maintaining full control of this highly valuable asset. We believe that our recent progress has greatly improved our options for maximizing stockholder value and we remain open to considering a broad range of opportunities to achieve this important goal. To this end, we have begun discussions with large pharmaceutical companies to explore how we can work together to increase reach to prescribing physicians and the public. We believe this is critical to maximizing the value of Qsymia.
Over the past seven months since the launch of Qsymia, VIVUS has successfully built the commercial foundation for the medical obesity treatment category and the Qsymia brand. Prior to the Qsymia launch, obesity was not recognized by providers as a medical condition that warranted treatment. Just this month, the American Association of Clinical Endocrinologists (AACE) published treatment algorithms which include the use of pharmacotherapy as a first-line management for overweight and obese patients with prediabetes, diabetes, and other obesity-related co-morbidities. Before we entered the market, reimbursement for branded medication in this category was nonexistent. Because of our extensive effort with payors, we have attained access to Qsymia for 34% of commercial lives in the U.S., and the Veterans Administration (VA) has recently added Qsymia to its national formulary. This is the fundamental work that needed to be accomplished in order to build a new medical treatment category, and we have made great progress through these efforts.