Nov 8 2010
VIVUS, Inc. (Nasdaq: VVUS) today announced that it has closed the sale of its MUSE business to Meda. Under the purchase agreement, Meda acquired the MUSE assets including the United States and foreign MUSE patents, existing inventory and the manufacturing facility located in Lakewood, New Jersey. As part of the transaction, most of the former VIVUS employees that were MUSE dedicated, including the field sales force, have joined Meda. VIVUS retains all of the liabilities associated with the pre-closing operations of the MUSE business.
The sales price was $23.5 million, which included an upfront cash payment of $22 million. VIVUS is eligible to receive a one-time milestone payment of $1.5 million based on future sales of MUSE.