Bloomberg News

Vivus Jumps on Aetna Qsymia Ruling: San Francisco Mover

November 21, 2012

Vivus Inc. (VVUS:US), maker of the Qsymia weight-loss medicine that won U.S. approval in July, jumped the most in nine months after insurer Aetna Inc. (AET:US) cleared the way for coverage of the obesity treatment.

Vivus rose 13 percent to $11.73 at the close of trading in New York, for the Mountain View, California-based company’s biggest single-day gain since Feb. 24, after Aetna said on its website that Qsymia is “medically necessary.”

Qsymia this year joined Belviq, made by Arena Pharmaceuticals Inc. (ARNA:US) and Eisai Co. (4523), as the first new obesity medicines approved for the U.S. market since 1999. Aetna said both drugs can be considered necessary, while coverage will depend on a patient’s particular medical plan.

While diet drugs often produce only temporary benefits, people who can’t lose weight through other methods may still need the medications, the insurer said in a bulletin on its website. “For these persons, the risk of physical dependence or other adverse effects may present less of a risk than continued obesity.”

Arena, based in San Diego, rose 3 percent to $9.20.

Aetna, the third-biggest health insurer by membership, is based in Hartford, Connecticut.

To contact the reporter on this story: Alex Nussbaum in New York at anussbaum1@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • VVUS
    (VIVUS Inc)
    • $4.2 USD
    • 0.00
    • 0.0%
  • AET
    (Aetna Inc)
    • $78.77 USD
    • -0.58
    • -0.74%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus