BioCentury
ARTICLE | Finance

Betting the fat

Vivus uses IP on obesity drug Qsymia as collateral for $110M Pharmakon loan

April 1, 2013 7:00 AM UTC

The $110 million loan Vivus Inc. (NASDAQ:VVUS) received from Pharmakon Advisors could provide the biotech with just about a year of cash to help it boost sales of obesity drug Qsymia.

Vivus launched Qsymia phentermine/topiramate last September, but sales have disappointed. The biotech reported 4Q12 revenues of $2 million. Sluggish sales have led to shareholder unrest, with First Manhattan Co. proposing its own slate of directors in March (see BioCentury, March 11). ...