by William White | July 3, 2013 1:42 pm
Despite being the first new prescription weight-loss drug to reach the market in 13 years, Vivus’ (VVUS) Qsymia has met with less than stellar sales.
Qsymia, which went on sale last September, had sales of $4.1 million as of the first quarter of this year, but Vivus has spent $45 million promoting the drug, reports The New York Times.
There are many explanations as to why the weight loss drug isn’t selling, with lack of insurance reimbursement, safety concerns, and the troubled history of weight loss drugs being just a few, reports NYT.
One thing that might help Vivus is the American Medical Association’s decision last month to classify obesity as a disease.
Vivus stock was down a little more than 2% as of Wednesday, continuing a 58% year-to-date fall.
Source URL: http://investorplace.com/2013/07/new-weight-loss-pills-meet-with-a-collective-yawn/
Short URL: http://invstplc.com/1nyJ7bi
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.