Qsymia sales for the first quarter were weighed down by continued reluctance of insurers to reimburse obesity treatments and the drug’s retail unavailability.
Net product revenue, reflecting sales of Qsymia, doubled to $4.1 million from $2 million in the preceding quarter, but missed analysts’ estimate of $5.2 million.
Despite the rising sales of the pill, first-quarter net loss widened to $53.6 million, or 53 cents per share, from $18.8 million, or 20 cents per share, a year earlier.
Vivus Inc said it has begun talks with large pharmaceutical companies to accelerate the marketing of its diet pill after coming under pressure from hostile investors over slow initial sales.
The checkered past of obesity drugs is often cited as a big reason why physicians and patients are cautious while taking up the use of Qsymia. That’s why, in Marketdata’s opinion, we don’t expect Qsymia or Belviq for that matter, to be obesity “blockbusters” this year or in the foreseeable future.