Vivus Files for Bankruptcy, Icahn Enterprises to Take Ownership

July 7, 2020, 9:41 PM

Vivus Inc. filed for Chapter 11 bankruptcy on Tuesday and completed the solicitation of a prepackaged reorganization plan that will hand total ownership of the company to IEH Biopharma, according to a statement and court papers.

  • Vivus filed for bankruptcy in Delaware and listed as much as $500m of assets and liabilities each in its petition
  • IEH Biopharma is a subsidiary of Icahn Enterprises
  • Vivus wants to have the reorganization plan confirmed by court on August 17, per statement
  • Co. will continue its clinical and commercial operations, including the sales and marketing of weight management medication and other drugs, ...

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