UPDATE: Bank of England Raises Price Target on Vivus to $22

According to Bank of England, Vivus

price target is raised to $22. Bank of England said that after deliberating on Qnexa's safety issues (teratogenicity and CV impact) and VVUS' proposed risk mitigation plan (REMS), an FDA advisory committee overwhelmingly favored approval, driven by strong efficacy (>10% weight loss), the significant under met need, and the fact that the two components of Qnexa are available for other indications. “The panel favored a post approval CV outcomes trial (CVOT). We raised our PO to $22 from $16 due to a higher probability of approval and longer treatment (6 months up from 5).” Vivus closed yesterday at $10.55.