- Weight loss drug maker Vivus Inc. will cut 20 jobs to save money in the fourth quarter.
- Vivus will take charges of $6 million to $8 million for the layoffs and other restructuring.
- The company lost $48.2 million in the September quarter, on revenue of $27.4 million. A year earlier in the same quarter, Vivus lost $40.4 million on revenue of $41,000.
- At the end of September, Vivus had accumulated a deficit of $643.4 million.
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Description
VIVUS, Inc. is a biopharmaceutical company. It commercializes and develops therapies to address unmet needs in obesity, sleep apnea, diabetes and sexual health. Its drug, Qsymia (phentermine and topiramate extended-release) was approved by the the United States Food and Drug Administration (FDA) for the treatment of obesity as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index (BMI) of 30 or greater (obese), or 27 or greater (overweight) in the presence of at least one weight-related comorbidity, such as hypertension, type 2 diabetes mellitus or high cholesterol (dyslipidemia). Qsymia incorporates low doses of active ingredients from two previously approved drugs, phentermine and topiramate. It has completed Phase 2 clinical studies for Qsymia for the treatment of sleeps apnea and Qsymia for the treatment of type 2 diabetes. Its drug also includes STENDRA, or avanafil.
Key stats and ratios
| Q2 (Jun '13) | 2012 | |
| Net profit margin | -1005.33% | -6944.98% |
| Operating margin | -929.62% | -6953.53% |
| EBITD margin | - | -6940.06% |
| Return on average assets | -69.96% | -67.15% |
| Return on average equity | -123.74% | -76.78% |
| Employees | 121 |
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