Vivus secures $50M for Qsymia launch

Vivus Inc. (NASDAQ:VVUS) secured $50 million from Pharmakon Advisors in exchange for capped royalty payments over four years from sales of Vivus' obesity drug Qsymia phentermine/topiramate. The biotech has the option to draw down an additional $60 million before year end. Vivus launched the fixed-dose combination of phentermine and topiramate in September, but the company's stock has faltered on the drug's slow uptake. Last month, Vivus reported $2 million in 4Q12 net product revenues for Qsymia, falling short of the Street's $3.1 million estimate (see BioCentury Extra, Feb. 26). ...