Vivus' EPS Is Higher Than Expectations

Shares of US firm Vivus moved up 7.85% after it reported earnings pershare in the first quarter of 1997 of 54 cents, much higher than analysts' projections, resulting from higher-than-projected sales of the company's non-invasive treatment for impotence, MUSE (alprostadil). Four analysts surveyed by First Call had expected EPS to be 20 cents.

First-quarter revenues amounted to $32.8 million, and net income was $9.5 million. Sales included a milestone payment of $5 million from Janssen Pharmaceutica International, which has a marketing agreement with Vivus for MUSE in China, the Pacific Rim, Canada, Mexico and South Africa. 71% of Vivus' sales were related to the launch of the product. Some analysts had expected MUSE sales of $25 million.