Thursday, February 23, 2012

Vivus shares soar after FDA panel vote on obesity drug

Shares of Vivus Inc. soared more than 80 percent into late-afternoon trading Thursday, after a Food and Drug Administration panel recommended Thursday that the Mountain View-based company’s obesity drug be approved.
The panel voted 20-2 late Wednesday to recommend that the FDA approve Qnexa by April 17.
The FDA, which rejected the once-a-day oral drug from the Mountain View-based company (NASDAQ: VVUS) in October 2010, isn’t required to follow the panel’s recommendation but often does.

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