Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Vivus Q4 Loss Widens

RELATED NEWS
Trade VVUS now with 
2/25/2013 6:58 PM ET

Vivus Inc. (VVUS: Quote) Thursday reported a wider loss for the fourth quarter, as revenues from its only commercial drug fell short of estimates, while the drug maker incurred increased marketing costs on the drug.

Sales of obesity drug Qsymia was $2.0 million, while analysts polled by Thomson Reuters expected revenues of $3.09 million for the quarter.

Qsymia is Vivus only commercial product. Last June, the company received FDA approval to market Qsymia as an addition to diet and exercise for chronic weight management. It was the second drug in 13 years to be approved by FDA to treat obesity.

The company intensified its commercialization activities for Qsymia, as the initial sales of the drugs were below expectations. Selling, general and administrative costs for the quarter jumped to $50.3 million from $6.5 million last year.

Mountain View, California-based Vivus' fourth-quarter loss widened to $56.7 million or $0.56 per share from $11.5 million or $0.13 per share last year. On average, thirteen analysts polled by Thomson Reuters expected earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.

VVUS closed Monday's regular trade at $12.41, down $0.17 or 1.36%. The stock further slipped $0.54 or 4.35%, on a volume of 2.3 million shares.

Register
To receive FREE breaking news email alerts for VIVUS INC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Russian Foreign Minister Sergei Lavrov warned Wednesday that Moscow would retaliate strongly if its "interests" in Ukraine are attacked. He also criticized the Ukrainian administration for relaunching its so-called anti-terrorist operation in the east of the country a day earlier. Lavrov's remarks came in an interview with Russia Today, which published excerpts of the English-language interview to While selling pressure has remained relatively subdued, stocks continue to see modest weakness in mid-day trading on Wednesday. The losses on the day come on the heels of the upward trend seen over the past several sessions. The major averages have moved roughly sideways in recent trading, lingering in the red. While a majority of Kentucky voters approve of the way Rand Paul is handling his job as Senator, the results of New York Times/Kaiser Family Foundation poll showed that voters from the Bluegrass State have a more mixed view on Paul's potential run for president in 2016.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.