Brief: Petros Pharmaceuticals Says On Jan 18 Metuchen Pharmaceuticals Llc, A Unit Of Co And Vivus Llc Entered Into A Settlement Agreement

Petros Pharmaceuticals

21/01/2022 22:04

Jan 21 (Reuters) - Petros Pharmaceuticals Inc  PTPI.O :
    * PETROS PHARMACEUTICALS - ON JAN 18, METUCHEN
PHARMACEUTICALS
LLC, A UNIT OF CO, AND VIVUS LLC, ENTERED INTO A SETTLEMENT
AGREEMENT
    * PETROS PHARMACEUTICALS - METUCHEN RETAINS ABOUT $7.3
MILLION OF
API INVENTORY TOGETHER WITH FORGIVENESS OF $9.6 MILLION OF
CURRENT LIABILITIES
    * PETROS PHARMACEUTICALS - API RETAINED IS SOLE SOURCED FROM
VIVUS
AND IS ESTIMATED TO PROVIDE ADEQUATE SUPPLY FOR FORESEEABLE
FUTURE
    * PETROS PHARMACEUTICALS - IN EXCHANGE FOR API, REDUCTION OF
LIABILITIES, METUCHEN AGREED TO EXECUTE INTEREST-BEARING
PROMISSORY NOTE IN FAVOR OF VIVUS
    * PETROS PHARMACEUTICALS - METUCHEN, VIVUS HAVE AGREED TO
ENTER
INTO SECURITY AGREEMENT TO SECURE OBLIGATIONS OF METUCHEN UNDER
NOTE

Source text for Eikon:  ID: 
Further company coverage:  PTPI.O 

 ((Reuters.Briefs@thomsonreuters.com;))