MOUNTAIN VIEW, Calif., May 3 VIVUS, Inc. (Nasdaq: VVUS) today announced the appointment of Michael P. Miller to the position of senior vice president and chief commercial officer. This newly created position, reporting directly to Leland Wilson, chief executive officer, will be responsible for building and leading the commercial efforts for Qnexa, if approved, for commercial use. Mr. Miller brings 30 years of commercial and launch experience from executive positions in marketing, sales and business development in the pharmaceutical and biotechnology industries. He has played a central role in the launch, growth and success of multiple brands spanning specialty and primary care markets, and has managed business development activities and partnerships with several leading pharmaceutical companies.
Most recently, Mr. Miller served as vice president in the BioOncology Business Unit at Genentech, a wholly owned member of the Roche Group, where he presided over three marketing teams and sales forces and drove top-line growth and successful indication launches for leading oncology therapies HerceptinŽ, TarcevaŽ, and XelodaŽ to $2.5 billion combined revenue in 2009. He was also responsible for the pre-launch activities of multiple pipeline products and the U.S. commercial collaboration with OSI Pharmaceuticals. Previously, Mr. Miller was senior vice president and chief commercial officer of Connectics Corporation. He also served as vice president at ALZA Corporation, a Johnson & Johnson Company, where he launched Ditropan XLŽ and negotiated partnerships with companies including UCB Pharma, Inc., Abbott Laboratories, Inc. and Bayer Corporation.
"Mike brings significant specialty and primary care experience to our management team," said Leland Wilson, chief executive officer, VIVUS. "Mike has the strategic vision, leadership skills, and track record for success as we evaluate potential partners and begin to formalize commercial plans for Qnexa, our investigational product candidate for the treatment of obesity."
Prior to ALZA, Mr. Miller also held senior sales and marketing executive positions at VIVUS and Syntex Laboratories. Mr. Miller holds a BS from the University of San Francisco and an MBA from San Francisco State University.
VIVUS is a biopharmaceutical company developing innovative, next-generation therapies to address unmet needs in obesity, sleep apnea, diabetes and sexual health. The company's lead investigational product candidate, QnexaŽ, has completed phase 3 clinical trials for the treatment of obesity and an NDA has been submitted and accepted by the FDA, with an action date of October 28, 2010. Qnexa is also in phase 2 clinical development for the treatment of type 2 diabetes and obstructive sleep apnea. In the area of sexual health, VIVUS is in phase 3 development with avanafil, a potentially best-in-class PDE5 inhibitor for the treatment of erectile dysfunction. MUSEŽ (alprostadil), a first generation therapy for the treatment of ED, is already on the market and generating revenue for VIVUS. For more information about the company, please visit www.vivus.com.
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated" and "intend," among others. These forward-looking statements are based on VIVUS' current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; uncertainties of patent protection and litigation; uncertainties of government or third party payer reimbursement; reliance on sole source suppliers; limited sales and marketing efforts and dependence upon third parties; risks related to the development of innovative products; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that future clinical studies discussed in this press release will be completed or successful or that any product will receive regulatory approval for any indication or prove to be commercially successful. VIVUS does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in VIVUS' Form 10-K for the year ended December 31, 2009 and periodic reports filed with the Securities and Exchange Commission.
CONTACT: -------- VIVUS, Inc. Investor Relations: The Trout Group Timothy E. Morris Brian Korb Chief Financial Officer 646-378-2923 650-934-5200 Pure Communications, Media Relations: Inc. Dan Budwick 973-271-6085
SOURCE VIVUS, Inc.