Published on
Monday, March 4, 2013
At least 17 biotechs and pharmas reported earnings
last week. Vivus Inc. (NASDAQ:VVUS) fell 18%, losing $225 million in
market value on the week, after reporting a loss per share and revenues that
missed the Street's estimates. The biotech, which launched its once-daily
obesity drug Qsymia phentermine/topiramate last September, reported 4Q12 net
product revenues of $2 million, missing the analyst consensus estimate of $3.1
million. On its conference call, Vivus said the Qsymia launch has faced challenges
that include a REMS that requires the drug be distributed only through
certified mail-order pharmacies as well as patient the out-of-pocket costs due
to the drug's lack of reimbursement. Vivus said it expects a decision from FDA
in April on a proposed REMS modification that would allow select retail
pharmacies to dispense Qsymia. The company also said it is making progress with
payers and employers to improve reimbursement.
Anika Therapeutics Inc. (NASDAQ:ANIK) closed
the week up 22% after posting EPS and revenues above the Street's
estimates. Mcap in $M