MOUNTAIN VIEW, Calif., July 11, 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 reiterated its recommendation that all stockholders vote "FOR" the Company's director nominees at VIVUS's Annual Meeting of Stockholders, which will be held on July 15, 2013.
VIVUS's Board and Management Team are Successfully Executing a Plan to Unlock the Full Potential of Qsymia and Maximize Stockholder Value
- VIVUS's Board and management team launched Qsymia® (phentermine and topiramate extended-release) capsules CIV in approximately 8,000 certified retail pharmacies on July 1, 2013, ahead of schedule, and are executing additional strategies to support Qsymia's ongoing rollout to consumers.
- VIVUS's Board and management team are in the midst of critical discussions with large pharmaceutical companies to effectively increase the Company's primary care physician outreach for Qsymia, and are working with the FDA on a direct-to-consumer (DTC) advertising campaign, which will launch in Fall 2013.
- VIVUS's Board and management team are making significant progress in broadening reimbursement coverage and establishing medical obesity as a drug treatment category. VIVUS recently amended its agreements with the country's two largest pharmacy benefit managers (PBMs), Express Scripts and Medco Health Solutions, whereby Qsymia will be available in either a tier-2 or tier-3 position. Under the amended agreements, patients covered by Express Scripts and Medco with benefits where Qsymia is offered on tier-2 should expect to pay an estimated $25.00 to $30.00 for their co-payment for a monthly prescription of Qsymia.
- VIVUS's highly qualified and experienced Board and management team have critical institutional knowledge of Qsymia, as well as relationships with regulators, medical associations, payors, policy makers, medical key opinion leaders, prescribing physicians, and large pharmaceutical companies that are invaluable at this critical juncture.
- VIVUS's Board and management team achieved approval of SPEDRA™ (avanafil) (the EU name for STENDRA™) in Europe and reached an agreement with Menarini Group to commercialize and promote SPEDRA in more than 40 European countries, Australia and New Zealand.
* We believe a vote for First Manhattan Co. (FMC) is a vote for risk.
* FMC's "plan" – to the extent they have one – appears to revolve solely around doing things that the VIVUS Board and management team are already doing, "fixing" things that aren't broken, or making wholesale changes without an understanding of our business and industry.
* Sam Colin is an investor who has never run a pharmaceutical company and his hand-picked slate of director nominees lacks executive experience in pharmaceutical commercialization.
* We believe FMC's plan to "re-launch" Qsymia would, at best, set back our commercialization progress by six months to a year, or, at worst, derail the Qsymia opportunity forever. Don't be fooled by FMC. They offer no new plan, only uncertainty and delay.PROTECT YOUR INVESTMENT – VOTE FOR THE VIVUS DIRECTOR NOMINEES ON THE GOLD PROXY CARD TODAY VIVUS stockholders are reminded that their vote is extremely important, no matter how many or how few shares they own. Whether or not you plan to attend the Annual Meeting, you have an opportunity to protect your investment in VIVUS by voting the GOLD proxy card. Please do not return or otherwise vote any white proxy card sent to you by FMC. If you have any questions, or would like assistance in voting your GOLD proxy card, please contact: MORROW & CO., LLC Call Toll Free: (800) 607-0088 Call Collect: (203) 658-9400 E-mail: email@example.com Deutsche Bank Securities Inc. is serving as financial advisor, Hogan Lovells US LLP is serving as legal advisor, and Morrow & Co., LLC is serving as proxy solicitor to the Company.