VIVUS Announces Key Management Updates to Support Global Expansion Strategy

CAMPBELL, Calif., Jan. 10, 2023 (GLOBE NEWSWIRE) — VIVUS LLC today announced the promotion of Santosh T. Varghese, MD, to President VIVUS Global Pharmaceutical Development. With more than 25 years of U.S. and global pharmaceutical industry experience, including more than a decade at VIVUS, Dr. Varghese will continue to serve as the company’s Chief Medical Officer.

“Santosh has been an integral part in the development of Qsymia^® and PANCREAZE^® as well as bringing these life changing treatment options to healthcare providers and patients,” said John Amos, Chief Executive Officer at VIVUS. “His numerous accomplishments and successful track record at VIVUS encapsulates his importance to our team. On behalf of VIVUS, I congratulate Santosh on his promotion and look forward to his continued success as we continue our work in addressing unmet patient needs.”

“It has been my life’s work to bring pharmaceutical-based solutions for patients in need and I am excited with this opportunity to continue on this mission with VIVUS,” said Dr. Varghese. “While I am proud of what we achieved, there remains much work to be done in defeating challenges that afflict patients and their activities of daily living. I am confident that we can make a difference to patients, physicians, and the healthcare system as a whole.”

VIVUS also announced today the appointment of Alessandro Giacometti to Vice President & General Manager of Europe. Prior to joining VIVUS, Mr. Giacometti held increasing responsibilities at Takeda, most recently serving as Global Commercial Lead for its stem cells therapy and before that its gastroenterology portfolio. Previously, he was Senior Marketing Director at Pfizer, focused on its Cardiovascular, Pain and CNS portfolios in Europe, Canada and key Emerging Markets. Mr. Giacometti holds a Master’s Degree in Geology from Sapienza University of Rome and more than 30 years of experience in the pharmaceutical industry, half of which is international-related positions.

“As we launch QSYMIA in various European countries, Alessandro will play an instrumental role in executing our planned rollout across this region,” added Mr. Amos. “His deep experience at large, multi-national pharmaceutical companies, combined with his knowledge of commercial, marketing and licensing opportunities, makes him uniquely qualified for this important position. Under Alessandro’s guidance, we are committed to bringing physicians and patients affordable, proven weight loss options that are not currently available in Europe.”

“I am thrilled to join VIVUS,” said Mr. Giacometti. “Bringing solutions to treat the growing European and global obesity epidemic is now more important than ever before. VIVUS is committed to making a difference for patients and health care providers, and I look forward to working with the team as we expand our commercial opportunities and raise awareness of QSYMIA into new markets.”

About VIVUS

VIVUS is a biopharmaceutical company committed to the development and commercialization of innovative therapies that focus on advancing treatments for patients with serious unmet medical needs. For more information about the Company, please visit http://www.vivus.com.

Forward-Looking Statements

Important Information and Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and/or covered by the “Bespeaks Caution” doctrine applied by the courts under the antifraud provisions of the federal securities laws, and other applicable provisions of the federal securities laws. Such forward-looking statements are based on current expectations, management’s beliefs and certain assumptions made by the Company’s management. These statements may be identified by the use of forward-looking words such as “will,” “shall,” “may,” “believe,” “expect,” “forecast,” “intend,” “anticipate,” “predict,” “should,” “plan,” “likely,” “opportunity,” “estimated,” and “potential,” and/or the negative use of these words or other similar words. All forward-looking statements included in this document are based on our current expectations, and the Company assumes no obligation to update any such forward-looking statements except to the extent otherwise required by law.

Forward-looking information about QSYMIA, including its potential benefits, an approval in the U.S. and anticipated product availability, involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied in this press release. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for our clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when drug applications may be filed in any other approved, whether QSYMIA will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of QSYMIA; uncertainties regarding the impact of COVID-19 on our business, operations, and financial results; and competitive developments.

The above factors, risks and uncertainties are difficult to predict, contain uncertainties that may materially affect actual results and may be beyond the Company’s control. New factors, risks and uncertainties emerge from time to time, and it is not possible for management to predict all such factors, risks and uncertainties. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore any of these statements may prove to be inaccurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation or warranty by the Company or any other person that the Company’s objectives and plans will be achieved. These forward-looking statements speak only as of the date such statements were made or any earlier date indicated, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changes in underlying assumptions or otherwise, unless otherwise required by law.