ViroPharma Incorporated Reports Fourth Quarter and Full Year 2008 Financi...( -- Quarter Highlighted by Cinryze(TM)...)

-- Quarter Highlighted by Cinryze(TM) [C1 Inhibitor (human)] Commercial Launch --

EXTON, Pa., Feb. 24 /PRNewswire-FirstCall/ -- ViroPharma Incorporated (Nasdaq: VPHM) reported today its financial results for the fourth quarter and year ended December 31, 2008.

Key events since September 30, 2008 include:

Operational:

• Closed on acquisition of Lev Pharmaceuticals, Inc. (Lev) in October 2008;
• Initiated commercial launch of Cinryze for routine prophylaxis of hereditary angioedema (HAE);
• Developed and successfully launched Cinryze patient access program, CinryzeSolutions(TM);
• Launched new sales team in December for Cinryze;
• Achieved net Vancocin(R) sales of $50 million during fourth quarter 2008; and
• Increased research and development expenses by 70 percent over the fourth quarter of 2007, primarily driven by maribavir and Cinryze.

Development:

• Filed supplemental Biologics License Application (sBLA) for Cinryze for treatment of acute attacks of HAE;
• Granted priority review by the U.S. Food and Drug Administration for Cinryze sBLA for treatment of acute attacks of HAE, with a Prescription Drug User Fee Act (PDUFA) date of June 3, 2009; and
• Discontinued maribavir clinical development program for prophylaxis against cytomegalovirus disease in transplant patients based on the preliminary analysis of phase 3 data.

Financial Results:

• Achieved 16th consecutive quarter of positive cash flows from operations; and
• Ended 2008 with working capital of $305 million, which includes cash, cash equivalents and short-term investments of $276 mi
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