Vivus Files for Bankruptcy, Icahn Enterprises to Take Ownership

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, ...