First Manhattan Says Expects VIVUS Announcement on QSYMIA

First Manhattan Co. (FMC), an owner-operated investment advisory firm and thebeneficial holder of approximately 9.1 percent of the outstanding shares ofVIVUS, Inc. (“Vivus”) (NASDAQ: VVUS), today issued the following statement inanticipation of the expected announcement from Vivus that its obesitytreatment Qsymia has received a modification in its Risk Evaluation andMitigation Strategy (REMS):“The REMS modification for Qsymia, which VIVUS should obtain, will be a stepforward. It is necessary but not sufficient for Qsymia's success. In the righthands, retail distribution through certified pharmacies would enable Qsymia toreach the drug's full potential for Vivus shareholders. Achieving this goalrequires a new commercial strategy, including the execution of the rightpartnership strategy. Qsymia should be the drug of choice for many Americanssuffering from obesity and its devastating medical consequences.FMC has notified Vivus that it intends to nominate six highly qualifieddirectors at the Company's 2013 annual meeting of stockholders. The FMCnominees are independent of management and will provide objective stewardshipof Qsymia's commercialization. They will seek out all the facts, not just theviews favored by management. The FMC nominees have deep experience inpharmaceutical commercialization, regulatory affairs, public-company finance,and turnaround expertise. They are committed to fixing the fundamentalproblems at Vivus, reversing the failed Qsymia launch and creating durablevalue for all Vivus shareholders.”