VIVUS Strengthens Executive Leadership Team

CAMPBELL, CA—(Marketwired – April 30, 2018) – VIVUS,Inc. (NASDAQ: VVUS) (the “Company”), a biopharmaceutical company, today announced the addition of three executives to the Company's senior leadership team. John Amos has joined as the Company's new Chief Executive Officer and a new member of the Company's Board of Directors. Scott Oehrlein is Chief Operations Officer, a newly created position within the Company. Kenneth Suh will continue as President and Chief Executive Officer of Willow Biopharma Inc., now a wholly–owned subsidiary of VIVUS. All three executives were previously members of the senior leadership team at Willow Biopharma Inc., a specialty pharmaceutical company based in Toronto, Canada.

“Since my appointment as VIVUS' Interim Chief Executive Officer last December, I have worked closely with our Board of Directors and senior management to identify talented individuals who have the expertise to realize the value of our current products and the vision to take VIVUS to the next level through strategic product acquisitions focused on cash flow–positive assets,” said Thomas B. King, who today assumed a new position as Interim President, to facilitate this management transition. “John, Ken and Scott each have a long track record of creating value in the pharmaceutical industry by effectively identifying, commercializing and marketing best–in–class therapies. We are confident that this team, working collaboratively with our existing senior leadership, is well–positioned to create long–term value for VIVUS patients and stockholders.”

“VIVUS has an exciting portfolio of specialty pharmaceutical products as well as significant development, regulatory and commercialization expertise, which I believe can be leveraged to create additional long–term value,” said John Amos, Chief Executive Officer at VIVUS. “I'm excited to join the company, as are Ken and Scott. We look forward to working with the dedicated employees at VIVUS who have already commercialized several important specialty pharmaceutical products. Combining this dedicated team with new products that contribute meaningful revenue growth will put VIVUS on the path to becoming a leading profitable specialty pharmaceutical company in the future.”

“When I founded Willow Biopharma Inc., I believed that another significant ethical pharmaceutical company could be created through disciplined deal making and building a portfolio of pharmaceutical brands and products to meet patients' needs. By integrating with VIVUS, we believe we can accelerate this vision,” said Kenneth Suh, President and CEO at Willow Biopharma.

Concurrent with the acquisition of Willow Biopharma, the Company's Board of Directors adopted the 2018 Inducement Equity Incentive Plan (the “Plan”) and, subject to the adjustment provisions of the Plan, reserved 5,020,000 shares of the Company's common stock for issuance pursuant to equity awards granted under the Plan. The Plan was adopted without stockholder approval pursuant to Rule 5653(c)(4) and Rule 5653(c)(3) of the Nasdaq Listing Rules.

In addition, effective April 30, 2018, the Compensation Committee of the Company's Board of Directors granted inducement awards to John Amos, Kenneth Suh and Scott Oehrlein, pursuant to Rule 5653(c)(4) of the Nasdaq Listing Rules, consisting of stock options to purchase 2,700,000; 1,700,000; and 620,000 shares of the Company's common stock, respectively. The stock options will vest over a four–year period, with 25% of the shares vesting on April 30, 2019 and the remaining shares vesting in equal installments over the remaining three years. The options have an exercise price of $0.37 and will terminate 7 years after the date of grant.

About VIVUS' New Senior Executives
John Amos – Chief Executive Officer and Board Member
John Amos served as the Executive Chairman of Willow Biopharma Inc., a biopharmaceutical company, from May 2017 to April 2018. Previously, he served as the Chief Executive Officer of ORIX Healthcare Capital LLC, a private equity and venture capital investment company, from October 2012 to April 2017. Mr. Amos served as the Operating Partner and Portfolio Company Board Member of BioVeda China Fund, a financial investment company, from February 2008 to October 2012. He served as the Chief Executive Officer and President of the Oncology Therapeutics Network (acquired by McKesson Corporation in November 2007), a physician services company, from June 2005 to November 2007 and was a special advisor to McKesson Corporation, a public healthcare services company, from November 2007 to May 2008. Mr. Amos served as the President of the Oncology Therapeutics Network of Bristol Myers Squibb, a publicly traded biopharmaceutical company, from June 2003 through May 2005. Mr. Amos has previously served on the board of directors of TD2, Navigating Cancer, CITIC Pharmaceuticals, Aesyntix Health, Prodigy Health, Apollo Health Street, Quinian Health, Oncology Therapeutics Network, Oncology Molecular Imaging and Matawan Pharmaceuticals. Mr. Amos served as a member of the Scientific Advisory Board at MD Anderson Cancer Center Institute for Applied Cancer Science (IACS) and was a health policy advisor to Governor Jeb Bush's 2016 Presidential Campaign. He has been appointed as a Trustee of the Global Leadership Council of the University of California, Davis Foundation. Mr. Amos studied Economics at the University of California, Davis and received a B.S. in General Business from the University of the State of New York.

Kenneth Suh – President and CEO, Willow Biopharma Inc.
Kenneth Suh founded Willow Biopharma Inc., a biopharmaceutical company, in August 2015. With the VIVUS transaction, he will continue to serve as President, Chief Executive Officer and Director of Willow Biopharma Inc. Previously he founded KRIM Biopharma Inc., a biopharmaceutical company, in 2013 and served as President and Chief Executive Officer and Director from August 2013 to August 2015. Mr. Suh held the following roles for Novartis Pharma Canada, a pharmaceutical company: Franchise Lead from 2012 to 2013, Brand Manager from 2010 to 2012, Associate Brand Manager from 2009 to 2010 and Medical Representative from 2006 to 2009. He received a Bachelor of Commerce with Honours from the University of Guelph, Ontario.

Scott Oehrlein – Chief Operations Officer
Scott Oehrlein served as the Global Chief Operations Officer of Willow Biopharma Inc., a biopharmaceutical company, from November 2017 to April 2018. Previously he served as Vice President and Head of General Medicines Sales/Diabetes and CV Sales, U.S. Sanofi, a global biopharmaceutical company, from April 2014 to June 2017. Mr. Oehrlein held various roles for Novartis Pharmaceuticals Corporation, a global healthcare company, from August 2004 to April 2014 including the following: Vice President, Head of Primary Care Sales US from April 2012 to April 2014, General Manager South Operating Unit from August 2011 to March 2012, and Vice President Primary Care Franchise, Novartis Canada Montreal from January 2009 to July 2011. He received a B.A. in Biology and Pre–Medicine from the Franklin and Marshall College.

About VIVUS
VIVUS is a biopharmaceutical company committed to the development and commercialization of innovative therapies that focus on advancing treatments for patients with serious unmet medical needs. For more information about the Company, please visit www.vivus.com.

Forward–Looking Statements
Certain statements in this press release are forward–looking within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks, uncertainties and other factors, including risks and uncertainties related to potential change in our business strategy to enhance long–term stockholder value; risks and uncertainties related to the impact, if any, of changes to our Board of Directors and senior management team; risks and uncertainties related to the integration and continued operations of Willow and our ability to achieve expected synergies; and risks and uncertainties related to diversion of our resources and difficulty in retaining critical employees of the acquired business. These risks and uncertainties could cause actual results to differ materially from those referred to in these forward–looking statements. The reader is cautioned not to rely on these forward–looking statements. Investors should read the risk factors set forth in VIVUS' Form 10–K for the year ended December 31, 2017 as filed on March 14, 2018, and as amended by the Form 10–K/A filed on April 26, 2018, and periodic reports filed with the Securities and Exchange Commission. VIVUS does not undertake an obligation to update or revise any forward–looking statements.

Advanzeon Solutions, Inc. Expands Management Team and Presence in California

TAMPA, FL—(Marketwired – April 30, 2018) – Advanzeon Solutions, Inc. (OTCBB: CHCR) (“Advanzeon” or the “Company”) announced today that it has expanded its management team by electing Dr. Stephen Kreitzer, currently serving as the Company's Medical Director, to the Company's Board of Directors; electing Dr. Arnold Finestone, a current member of the Company's Board of Directors and longstanding Chairman of its Audit Committee, to serve as the Company's Chief Financial Officer; and, electing Mr. Cesar Vallarta to the position of Senior Vice President of Sales and Marketing. The Company also announced the expansion of its presence in California by bringing its total number of California sales and marketing representatives to three.

Clark A. Marcus, the Company's Chairman and CEO, stated, “The addition of Dr. Stephen Kreitzer to the Company's Board of Directors and Dr. Arnold Finestone and Mr. Cesar Vallarta to the Company's management team significantly strengthens the Company, providing it with the increased depth and management skills necessary to take the Company to the next level. During the last three–years, Dr. Kreitzer, Dr. Finestone and Mr. Vallarta, albeit in a more “behind the scenes” position, have materially assisted the Company in its reorganization process and been extremely instrumental in bringing the Company to a point of revitalization for future success. We are all extremely gratified by their showing of confidence and their dedication to the Company in taking on these additional, more formalized and demanding responsibilities.”

Dr. Stephen Kreitzer has long been serving as the Company's Medical Director and was responsible for the early formation and expansion of the Company's Medical Advisory Board. He was also responsible for positioning the Company as a premier sleep apnea diagnosis and treatment company. Practicing medicine in Tampa for over thirty years, Dr. Kreitzer currently serves as the Medical Director of the Sleep Laboratory at Memorial Hospital of Tampa, as well as the Chief of Pulmonary Medicine. He also chairs the Medical Ethics Committee at Memorial Hospital; previously served on the Board of Censors of the Hillsborough County Medical Association; served as a Major in the United States Air Force, and has conducted over 100 clinical FDA–approved trials. Dr. Kreitzer has authored numerous articles in his field of expertise, Pulmonology, and was recently voted “Top Doctor” by his peers in the Tampa Bay area for both Sleep Medicine and Pulmonary Medicine.

Dr. Arnold Finestone joined the Company in early 2009, serving initially as Chairman of the Company's Board of Directors and continuing thereafter as a member of the Board throughout. He also chairs the Company's Audit Committee in addition to serving as Special Consultant to the Company on a number of business matters. Dr. Finestone has an exemplary 50+ year history in various business operations, having guided each of the companies he has worked in achieving remarkable successes. Dr. Finestone received his Ph.D. from Polytechnic Institute of Brooklyn in 1955. From 1957 to 1970, Dr. Finestone was Vice President and Director of Planning, Development and Marketing for Foster Grant, Inc., building that business from a $12 million company to a $124 million company. In 1970, Dr. Finestone joined Dart Industries. He was Dart's executive vice president in charge of the chemical and plastic group, a $2.8 billion group, at that time. In 1980, Dart Industries merged with Kraft Foods and had grown to an $8 billion business. Shortly after, the petrochemical business part was sold by Dart and Kraft. In 1985, Dr. Finestone retired and started a business in the production of biotech chemicals becoming a large producer of vaccines, specifically in the flu area. For the next few decades, Dr. Finestone was engaged in several businesses and then joined the Company's Board in 2009.

Mr. Cesar Vallarta has been a practicing attorney in government and private practice, as well as a businessman, in both the United States and Mexico, with over 25 years of combined legal, scientific and business experience. His legal practice focused primarily on international law; contract litigation; and, prison reform, primarily in the medical field for the government of Mexico. Mr. Vallarta's private business activities have focused on international trade under the rules and regulations of NAFTA (North American Free Trade Agreement); medical rehabilitation centers; and, marketing. He currently serves as the CEO of an international trade group specializing in advising international companies in matters concerning international law, compliance and revenue generation.

Mr. Marcus added, “In addition to increasing our management depth and skill set, the Company has also expanded its presence in California so that it now has three full–time sales and marketing representatives, with Mr. Vallarta serving as their manager. California has been a major market for us in terms of clinic referrals. With the additional relationship we now have with the LoMed pain product (see our press release dated March 26, 2018), we are confident that we have materially increased our ability to not only service our existing clinics but also reach other members of the medical profession with respect to achieving LoMed patient referrals. We expect that our added sales presence, coupled with increased referral channels, will provide us with a sustainable overall increase in patient flow from both our existing clinics and new referrals of LoMed patients who are required to receive a home sleep apnea test prior to receiving a prescription for their LoMed pain medication. We will continue, of course, to service our other clinics who continue to refer patients to us on a national scope.”

About Advanzeon Solutions, Inc.

Established in 1969, Advanzeon, through its subsidiaries, owns and operates the nation's most complete sleep apnea program known as SleepMaster Solutions™ (the “Program”). Headquartered in Tampa, Florida, the Company's Program is available in all fifty states, Washington D.C. and Puerto Rico. The Program focuses on personalized attention, flexibility, a commitment to high–quality services and innovative approaches that address both the specific needs of clients and changing healthcare industry demands. For more information, visit our website at www.advanzeon.com.

Forward–Looking Statements

This press release contains forward–looking statements that are subject to risks and uncertainties. These forward–looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward–looking statements by words such as “may,” “should,” “plan,” “intend,” “potential,” “continue,” “believe,” “expect,” “predict,” “anticipate” and “estimate,” the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward–looking statements. The forward–looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward–looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward–looking statements.

Labour Migration a Key Contributor to GDP

By International Organization for Migration
KATHMANDU, Nepal, Apr 30 2018 (IOM)

Nepal received remittances of NPR 699 billion (USD 6.56 billion) in FY 2016/17 and ranks fourth in the world in terms of the contribution of [...] Read more »