UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G
                                 (Rule 13d-102)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
           TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
                            PURSUANT TO RULE 13d-2(b)
                               (Amendment No. 3)*

                                   Vivus, Inc.
                                (Name of Issuer)

                     Common Stock, $.001 par value per share
                         (Title of Class of Securities)

                                    928551100
                                 (CUSIP Number)

                                December 31, 2006
             (Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

      |X|   Rule 13d-1(b)

      |_|   Rule 13d-1(c)

      |_|   Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).


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CUSIP No. 928551100                   13G                     PAGE 2 OF 3 PAGES
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- --------------------------------------------------------------------------------
1.    NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      Chilton Investment Company, LLC

      87-0742367
- --------------------------------------------------------------------------------
2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                                        (a) [ ]
                                                                        (b) [X]
- --------------------------------------------------------------------------------
3.    SEC USE ONLY


- --------------------------------------------------------------------------------
4.    CITIZENSHIP OR PLACE OF ORGANIZATION

      State of Delaware
- --------------------------------------------------------------------------------
              5.     SOLE VOTING POWER

                     4,513,104
  NUMBER OF   ------------------------------------------------------------------
   SHARES     6.     SHARED VOTING POWER
BENEFICIALLY
  OWNED BY           0
    EACH      ------------------------------------------------------------------
  REPORTING   7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH             4,513,104
              ------------------------------------------------------------------
              8.     SHARED DISPOSITIVE POWER

                     0
- --------------------------------------------------------------------------------
9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      4,513,104
- --------------------------------------------------------------------------------
10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
      Instructions)
                                                                            [ ]
- --------------------------------------------------------------------------------
11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      9.3%
- --------------------------------------------------------------------------------
12.   TYPE OF REPORTING PERSON (See Instructions)

      IA
- --------------------------------------------------------------------------------


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CUSIP No. 928551100                   13G                     PAGE 3 OF 3 PAGES
- -----------------------                                       ------------------

Pursuant to Rule 13d-2(b) of Regulation 13D-G under the Securities Exchange Act
of 1934, as amended, the Schedule 13G initially filed on February 14, 2005 by
Chilton Investment Company, Inc. with respect to the Common Stock, $0.001 par
value (the "Common Stock"), of Vivus, Inc., a Delaware corporation (the
"Schedule 13G"), as amended by Amendment No. 1 to the Schedule 13G filed on
February 14, 2006 by Chilton Investment Company, LLC (the "Reporting Person")
and Amendment No. 2 to the Schedule 13G filed on June 9, 2006, is hereby amended
by this Amendment No. 2 to the Schedule 13G to report a change in the
information reported in the Schedule 13G. The Schedule 13G is hereby amended as
follows:

Item 4 is hereby amended and restated in its entirety to read:

Item 4.           Ownership.

                  (a)   Amount beneficially owned: 4,513,104 shares

                  (b)   Percent of class: 9.3%

                  (c)   Number of shares as to which the person has:

                        (i)   Sole power to vote or to direct the vote:
                              4,513,104
                        (ii)  Shared power to vote or to direct the vote: 0
                        (iii) Sole power to dispose or to direct the disposition
                              of: 4,513,104
                        (iv)  Shared power to dispose or to direct the
                              disposition of: 0

                                    SIGNATURE

      After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Date:   February 14, 2007

                                        Chilton Investment Company, LLC

                                   By:  /s/ James Steinthal
                                       -----------------------------------------
                                         Name: James Steinthal
                                         Title: Managing Director