VIVUS (VVUS) Tops Q1 EPS by 9c

VIVUS (NASDAQ: VVUS) reported Q1 EPS of ($0.12), $0.09 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $15.32 million versus the consensus estimate of $17.97 million.

                                                        

                                   Three Months Ended   

                                        March 31,       

                                 -----------------------

                                    2016        2015    

                                 ----------- -----------

Qsymia, net product revenue      $    12,412 $    12,628

License and milestone revenue              -      11,574

STENDRA/SPEDRA supply revenue          1,526       8,478

STENDRA/SPEDRA royalty revenue         1,386       (514)

                                 ----------- -----------

  Total revenue                  $    15,324 $    32,166

                                 ----------- -----------

                                                        

Approximately 116,000 and 136,000 Qsymia prescriptions were dispensed in the quarters ended March 31, 2016 and 2015, respectively.

Business Update

• The Company received certification that the term for a key patent for STENDRA (US Patent No. 6,656,935) has been extended by 1,687 days as provided by 35 U.S.C. § 156. The expiration date of the patent, which is listed in the Orange Book for STENDRA, is now April 27, 2025.
• The Qsymia Patient Savings Offer, an important program that is instrumental in driving brand trial and patient retention, will be upgraded late in the second quarter of 2016. The upcoming Savings Offer has been designed to bring more new patients into the brand and support their weight loss effort for the long term. The new benefit will continue to offer the two-week Free Trial but will now offer the alternative option of $95 savings for a patient's first 30-day prescription. A subsequent monthly savings of $65 will continue for an extended savings benefit of 36 months. We believe that the new program design better supports Qsymia patients in achieving long term success. The new offer will launch June 3, 2016.

For earnings history and earnings-related data on VIVUS (VVUS) click here.

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