November 9, 2010 (FinancialWire) (http://www.financialwire.net/) — Vivus, Inc. (NASDAQ: VVUS) said that it has closed the sale of its Muse business to Meda.  The sales price was $23.5 million, which included an upfront cash payment of $22 million. Vivus is eligible to receive a one-time milestone payment of $1.5 million based on future sales of Muse.

Under the purchase agreement, Meda acquired the Muse assets including the United States and foreign Muse patents, existing inventory and the manufacturing facility located in Lakewood, New Jersey.

As part of the transaction, most of the former Vivus employees that were Muse dedicated, including the field sales force, have joined Meda. Vivus said it retains all of the liabilities associated with the pre-closing operations of the Muse business.

California-based Vivus is a biopharmaceutical company developing therapies to address obesity, sleep apnea, diabetes and male sexual health.

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