Boston, MA 05/24/2013 (wallstreetpr) – The share prices of Vivus Inc. (NASDAQ:VVUS) had touched an intraday high price of $15.04 before closing at $14.50 per share during the last trading session. The closing price of the shares was observed to be 7.25 percent increase over the closing price of previous trading session. The shares of Vivus Inc. (NASDAQ:VVUS) traded in the range of $13.12 per share to $15.04 per share during the day. The 52 week low trading price for the company is $9.86 per share and the 52 week high price level is $31.21 per share.
Vivus Inc. (NASDAQ:VVUS) had recently expanded its board of directors, following which the First Manhattan Co. which is the beneficiary holder of 9 percent stake in the company had added a director nominee Dr. Alex Denner for election to the board. First Manhattan Co. had already added Dr. Rolf Brass and Melvin Keating to the Director nominees from its side. The election to the board is to be held at the annual shareholders’ meeting on July 15, 2013.
Vivus Inc. (NASDAQ:VVUS) is a bio pharmaceutical company which focuses on the development and commercialization of therapies for various unmet needs of consumers such as sleep apnea, diabetics, obesity and sexual health. The drug developed by the company, Qsymia became the first drug for obesity treatment to be approved by Food and Drug Administration of the United States. However, there had been allegations against the company that its management team did not take proper steps ti ensure effective marketing to increase the sales of the obesity drug, Qsymia.
