VIVUS, Inc. (VVUS) Doubles After Winning Panel Backing for First Weight-Loss Pill in 13 Years
2/23/2012 6:58:39 AM
Vivus Inc. more than doubled in early trading after the company's weight-loss pill Qnexa won the backing of a U.S. advisory panel, moving a step closer to gaining approval as the first new obesity drug in 13 years. Vivus gained $12.20 to $22.75 at 7:44 a.m. The shares of NeuroSearch A/S and Novo Nordisk A/S, Danish companies developing obesity treatments, also gained after advisers to the Food and Drug Administration voted 20-2 yesterday that Qnexa's benefits outweigh its risks. The FDA isn't required to follow the panel's recommendation.