On January 18, 2013, First Manhattan Co. announced that it has had discussions with the management of VIVUS Inc., and expect to continue to have similar discussions with management, the Board of Directors of the Company, and other shareholders of the Company relating to the Company's business, operations, strategy, governance, future plans, and related matters. In addition, First Manhattan said that it has become concerned about the declining value of the shares of the Company and the strategic direction of its management.

Further, First Manhattan said that it has become more concerned about the Qsymia launch, the lack of revenue guidance from the Company as compared to analyst estimates, and management's repeated statements that it intends to follow its commercial partnering strategy of ‘renting' a second detail position on a large pharmaceutical sales force instead of a more traditional partnership structure.