Vivus has decided to obtain all product rights in the U.S. and Canada for Pancreaze (pancrelipase) Delayed-Release Capsules conducted by Janssen Pharmaceuticals. This will be subject to particular closing terms, comprising Hart-Scott-Rodino evaluation.
This is the “first of a kind” situation and the firm hopes it will be a series of product acquirements developed to create income and make stronger its fiscal position.
John Amos, CEO of Vivus, claimed: “We are very happy to declare the acquirement of the product rights for PANCREAZE for Canadian and the U.S. territories. The acquirements, paired with this week’s declaration to reorganize a part of our exchangeable debt with Athyrium Capital Management, are proofs of our plan to generate a more financially and stronger capable VIVUS.”
“We expect that the amalgamation of a new item for us to support along with the intensification of our balance sheet will help as first stepping stones in our tactical vision for creating value. The senior management team of VIVUS aims to use the firm’s current working infrastructure in the marketing of PANCREAZE.”
“We aim to drive income in the future via disciplined product acquirement, ground-breaking marketing and sales of our present product portfolio, aimed expense management, and sturdy product lifecycle management.”
Kenneth Suh, president and CEO of Willow Biopharma, claimed: “PANCREAZE will be as our initial product acquirement, one that will permit us to take part and be a significant product firm in the worldwide gastrointestinal marketplace estimated to cross $48 Billion by the end of 2022, as per GBI Research.”
Recently, VIVUS reported results financial of the first quarter of this year. The average loss for the quarter one of this year was $10.7 Million, in comparison with an average loss of $1.1 Million in the quarter one of last year. Cash, available-for-sale securities, and cash equivalents were $209.1 Million as of March 2018.