Vivus Announces Production Shortfall
Business Wire via Dow Jones
MENLO PARK, Calif.--(BUSINESS WIRE)--Dec. 10, 1997--VIVUS, Inc. (NASDAQ:VVUS)
today announced that the Company will be unable to meet its production goals for
the fourth quarter. This shortfall results primarily from the Company's efforts
to expand its production capacity into its new 90,000 square foot plant. In an
effort to complete construction and focus on international and US regulatory
approvals for the new plant, VIVUS has shifted existing equipment and personnel
to the new facility. In addition, because the existing manufacturing facility
has run at full capacity since the product was launched, VIVUS plans to suspend
production from Christmas to New Year's in order to complete needed maintenance.
Because the Company continues to be capacity constrained, the impact of these
factors is likely to result in approximately a 25% decrease in product revenues
for the fourth quarter as compared with the third quarter.
The Company anticipates that shipments from its new plant to Europe and the
United States will be delayed to the first and second quarters of 1998,
respectively. Such shipments will be dependent upon obtaining the required
regulatory approvals. Until that time, the Company will continue to be capacity
constrained.
Founded in 1991, VIVUS, Inc. is a leader in the development of advanced
therapeutic systems for the treatment of erectile dysfunction, commonly referred
to as impotence. VIVUS has pioneered a novel therapy for erectile dysfunction
known as the transurethral system for erection. This therapy consists of a
proprietary, non-invasive drug delivery system that delivers pharmacologic
agents via the urethra.
Note to Editors and Investors: Additional written materials, recent releases
and Company information are available through a variety of sources, including
the VIVUS home page (www.vivus.com) and the VIVUS Fax-On-Demand Service
(1-888-329-5719). |
