Atlanta, GA 7/18/12 (StreetBeat) – Vivus Inc (Nasdaq: VVUS) is trading up 13.6% or $3.60 at $30.06 following FDA approval of its one a day weight loss drug, Qsymia.
Vivus is a biopharmaceutical company focusing its studies in obesity, sleep apnea, diabetes, and sexual health. The Qsymia drug, with an expected fourth quarter 2012 release, is the first drug of its kind to be approved by the FDA.
"Qsymia is the first FDA-approved once daily combination treatment for patients struggling with obesity," said Peter Tam, president of Vivus in a prepared statement. "The degree and severity of obesity and the lack of effective pharmacological interventions that we face as a society were two primary reasons for the development of Qsymia. We are pleased with FDA's decision today because patients and physicians now have another treatment option available to them."
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