Vivus pays down $48.6 million of senior secured notes due 2024

By Sarah Lizee

Olympia, Wash., Oct. 3 – Vivus, Inc. paid down $48.6 million of its senior secured notes due 2024, according to a press release.

This will result in savings of $10.5 million due to a reduction in interest payments over the remaining term of the loan, the company said.

“As we are executing the 10-quarter turnaround plan of Vivus, an essential component of such plan is to address our total debt,” John Amos, chief executive officer at Vivus, said in the release.

“Accordingly, we intend to actively manage our capital structure, including retiring our outstanding debt to appropriate levels in a series of steps consistent with our 10-quarter turnaround plan.”

Mountain View, Calif.-based Vivus is a pharmaceutical company focused on treatments for obesity and sexual dysfunction.

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