Vivus stock slumped more than 10% this morning after the company said its weight-loss drug will likely be denied approval in Europe. The European Medicines Agency will make a formal decision on the drug, Qsiva, at a meeting next month. But initial comments from the organization make Qsiva’s future seem clouded. Vivus will have the opportunity to resubmit the medicine or appeal. “We await the official decision and the formal report which should provide us specifics on any additional requirements leading to the approval of Qsiva in Europe,” said Vivus President Peter Tam. “We will work … to address the Committee’s concerns. VIVUS is committed to making this important medication available to obese patients in Europe.”
