Why has Vivus soars after drug hits US weight loss targets pharmaceuticals?”
Sept. 9 (Bloomberg) — Vivus Inc. rose the most in almost a decade in New York trading after the biotechnology company said its weight-loss drug met U.S. guidelines in two large human trials. Vivus climbed as much as 81 percent to $12.49 in Nasdaq Stock Market composite trading, and traded at $11.70 at 11:47 a.m. The gain was the biggest since Dec. 22, 1999, when the Mountain View, California-based company asked U.S. regulators to clear an erectile dysfunction drug. Vivus is competing with Orexigen Therapeutics Inc. and Arena Pharmaceuticals Inc., both of San Diego, to introduce a new diet drug in the U.S., a market that might be worth $10 billion annually for a safe therapy that helps patients lose 10 percent of their weight in a year, said Needham & Co. analyst Mark Monane. Global obesity levels, linked to rising rates of diabetes and heart disease, will swell 75 percent to 700 million people by 2015, according to the World Health Organization. Read more at the link below.
Vivus Inc. rose the most in almost a decade in New York trading after the biotechnology company said its weight-loss drug met U.S. guidelines in two large human trials. Vivus climbed as much as 81 percent to $12.49 in Nasdaq Stock Market composite trading, and traded at $11.70 at 11:47 a.m. The gain was the biggest since Dec. 22, 1999, when the Mountain View, California-based company asked U.S. regulators to clear an erectile dysfunction drug. Vivus is competing with Orexigen Therapeutics Inc. and Arena Pharmaceuticals Inc., both of San Diego, to introduce a new diet drug in the U.S., a market that might be worth $10 billion annually for a safe therapy that helps patients lose 10 percent of their weight in a year, said Needham & Co. analyst Mark Monane. Global obesity levels, linked to rising rates of diabetes and heart disease, will swell 75 percent to 700 million people by 2015, according to the World Health Organization. “We would market this drug to people with significant obesity
