vivus inc (VVUS) Key Developments
VIVUS Inc. Announces Executive Changes
Dec 20 13
On December 16, 2013, the Board of Directors of VIVUS Inc. appointed Svai Sanford, the Company's interim Chief Financial Officer and principal financial officer, to serve as the Company's principal accounting officer effective December 16, 2013. As a result of the consolidation of the positions of principal financial officer and principal accounting officer with Mr. Sanford, Lee B. Perry's employment will end on December 31, 2013. Mr. Sanford, age 43, has served as the Company's interim Chief Financial Officer since November 2013. Prior to this, he served as the Company's Corporate Controller from July 2012 to November 2013. Prior to his employment with the Company, Mr. Sanford was the Corporate Controller at Glam Media Inc. from November 2010 to June 2012.
VIVUS Announces License and Commercialization Agreement with Sanofi for Avanafil in Africa, Middle East, Turkey and CIS/Russia
Dec 12 13
VIVUS Inc. announced that it has entered into a License and Commercialization Agreement with Sanofi to commercialize avanafil on an exclusive basis in Africa, the Middle East, Turkey, and the Commonwealth of Independent States (CIS) including Russia. Sanofi will be responsible for obtaining regulatory approval in its territories. Sanofi intends to market avanafil under the tradename SPEDRA(TM) or STENDRA(TM). Under the terms of the agreement, VIVUS is eligible to receive up to $61 million in upfront payments, regulatory and sales milestones. VIVUS will also receive escalating royalties based on net sales over the life of the agreement.
VIVUS Inc. Presents at 25th Annual Piper Jaffray Healthcare Conference 2013, Dec-04-2013 11:00 AM
Dec 2 13
VIVUS Inc. Presents at 25th Annual Piper Jaffray Healthcare Conference 2013, Dec-04-2013 11:00 AM. Venue: The New York Palace Hotel, 455 Madison Avenue, New York, NY 10022, United States.
VIVUS Inc. Announces New Clinical Practice Guidelines Urging Healthcare
Nov 21 13
VIVUS Inc. announced its support of new clinical practice guidelines urging healthcare providers to take an active role in helping overweight or obese patients achieve and maintain a healthy body weight. The guidelines also state that obesity medication can be considered as an adjunct to lifestyle intervention to help appropriate patients (individuals with BMI > 30 or BMI > 27 with at least one obesity-associated comorbid condition) achieve their weight loss goals. The new guidelines were developed by the American Heart Association, American College of Cardiology and The Obesity Society, in conjunction with the National Heart, Lung and Blood Institute. In addition, a publication in the Journal of the American Medical Association, by researchers from the National Institutes of Health, found that medications approved for long-term obesity treatment, when used as an adjunct to lifestyle intervention, lead to an increased likelihood of achieving clinically meaningful weight loss.
VIVUS Inc. Plans to Cut 20 Jobs; Announces Executive Changes
Nov 5 13
VIVUS Inc. will cut 20 jobs to save money in the fourth quarter. The company will take charges of $6 million to $8 million for the layoffs and other restructuring.
The company signed a deal with Timothy Morris, its former chief financial officer, who will stay on at the business with fewer responsibilities until Dec. 31. Meanwhile, Svai Sanford, Vivus' corporate controller, will step up as interim CFO. Before Vivus hired him last year, Sanford was CFO of Glam Media Inc. for almost two years.