Urges Stockholders Not to be Misled by FMC's Distracting Proxy Campaign Vote the GOLD Proxy Card Today and Support VIVUS's Highly Qualified Directors
MOUNTAIN VIEW, Calif., June 19, 2013 (GLOBE NEWSWIRE) -- VIVUS, Inc. (Nasdaq:VVUS) (the "Company"), a pharmaceutical company commercializing and developing innovative, next-generation therapies to address unmet needs in obesity and sexual health, today announced that it has posted an investor presentation to the Company's website. The Board of Directors and management team are using the presentation during meetings with investors beginning today. The presentation is available on the Company's website at www.vivus.com/investors/stockholder-materials .
Highlights of the presentation include:
- VIVUS's Board and Management Team Have Positioned the Company for Success.
- The Board and management team have successfully developed four products through FDA approval, most recently Qsymia ® (phentermine and topiramate extended-release) capsules CIV and STENDRA™ (avanafil).
- Throughout 2013, the VIVUS Board and management team have worked diligently to establish a strong foundation for Qsymia.
- Your Board and management team are actively pursuing strategies to expand the Company's primary care physician (PCP) reach, activate consumers through direct-to-consumer (DTC) advertising and grow prescriptions.
- VIVUS is at a critical juncture in the commercialization of Qsymia.
- VIVUS Has a Clear Plan to Build a Successful Qsymia Brand.
- VIVUS has achieved important milestones that have established a strong foundation to drive future sales and increase stockholder value.
- During 2013, the Company has:
- Helped to establish the medical obesity market;
- Broadened payor reimbursement;
- Increased patient access to retail pharmacies;
- Initiated discussions with large pharmaceutical companies to expand PCP reach;
- Created a DTC strategy to activate consumers in Fall 2013; and
- Secured $360 million of capital to fund future growth.
- VIVUS's Board Has the Right Experience for VIVUS at the Right Time.
- The VIVUS Board, which includes seven independent directors, is committed to maximizing value for ALL stockholders and considering a broad range of opportunities to achieve this objective.
- The Board is comprised of proven business leaders who possess a broad range of commercial, management, financial, clinical and operational experience, as well as expertise in the biopharmaceutical industry and other areas important to VIVUS.
- VIVUS directors have extensive experience launching drugs and structuring relationships with large pharmaceutical companies, which is critical to the commercialization of Qsymia.
- VIVUS directors have numerous industry relationships that are critical to the Company's ongoing discussions with large pharmaceutical companies.
- Supporting First Manhattan Co. (FMC) Would Remove a Board and Management Team with the Institutional Knowledge Necessary to Make Qsymia a Successful Brand and Would Jeopardize the Progress Made To Date.
- FMC has failed to articulate a plan as to what its nominees would do differently if they were to take control of VIVUS.
- FMC's nominees have minimal relevant experience to drive long-term stockholder value.
- We believe FMC would create unnecessary risk for VIVUS and its stockholders and electing its nominees would throw VIVUS into turmoil at a critical juncture.
- VIVUS Stockholders Have a Clear Choice.
VIVUS recommends that stockholders vote "FOR" the Company's nine highly qualified nominees today by Internet, by telephone or by returning any GOLD proxy card received. Please do not return or otherwise vote any proxy card sent by FMC. If you have already voted a white proxy card sent to you by FMC, you have every right to change that vote by simply voting a later-dated GOLD proxy card. Please review VIVUS's proxy materials and other stockholder communications at www.vivus.com/investors/stockholder-materials . If stockholders have any questions or would like assistance in voting the GOLD proxy card, please contact: MORROW & CO., LLC Call Toll Free: (800) 607-0088 Call Collect: (203) 658-9400 E-mail: firstname.lastname@example.org About Qsymia Qsymia ® (phentermine and topiramate extended-release) capsules CIV is approved in the U.S. and is indicated as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adults with an initial body mass index (BMI) of 30 kg/m 2 or greater (obese) or 27 kg/m 2 or greater (overweight) in the presence of at least one weight-related medical condition such as high blood pressure, type 2 diabetes, or high cholesterol. The effect of Qsymia on cardiovascular morbidity and mortality has not been established. The safety and effectiveness of Qsymia in combination with other products intended for weight loss, including prescription and over-the-counter drugs and herbal preparations, have not been established.
- Support the VIVUS Board, which:
- Has a clear strategic and tactical plan.
- Is comprised of directors with relevant operational experience.
- Has achieved significant milestones for Qsymia to drive future sales.
- Is in ongoing discussions with large pharmaceutical companies.
- Is acting in the best interests of ALL VIVUS stockholders.
- Don't support FMC, which:
- Has no detailed strategic or tactical plan.
- Is a minority stockholder seeking to have its nominees control 100% of the VIVUS Board although, if elected, its nominees will have fiduciary obligations to VIVUS's stockholders.
- Is proposing nine nominees, seven who have no executive experience in pharmaceutical commercialization.
- Has not outlined what its nominees would do differently than the current Board and management team.