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Merriman Curhan Ford Initiates Coverage on VVUS with a BUY

|Includes: Vivus, Inc. (VVUS)

VIVUS, Inc. (NASDAQ: VVUS) ($7.43) initiated with a Buy rating by Michael King:

  • In our view, VIVUS is one of the most attractive product-driven stories in the mid-cap biotech space. The company‚Äôs valuation, at approximately $500M, is well below what we believe a company should be trading at wherein the lead product addresses a large, unmet medical need, has been substantially de-risked and to which the company holds all of the worldwide rights. Indeed, we would argue that if Qnexa was a therapy for a condition other than obesity, the shares would sell at substantially higher values.