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ARTICLE | Company News

Vivus to cut Qsymia sales force

August 1, 2015 12:01 AM UTC

Vivus Inc. (NASDAQ:VVUS) lost $0.22 (13%) to $1.51 after it announced a restructuring plan that will halve from 100 to 50 its sales staff for Qsymia phentermine/topiramate. The company had eliminated another 50 Qsymia sales positions last quarter.

Vivus reported $14 million in 2Q15 sales of Qsymia, up from $11 million in 2Q14. CEO Seth Fischer said on a conference call that the market for anti-obesity drugs "has developed at a substantially lower rate than expected," as generic phentemine still accounts for more than 80% of prescription volume. ...