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ViroPharma Incorporated Reports Fourth Quarter and Full Year 2010 Financial Results
Date:2/24/2011

EXTON, Pa., Feb. 24, 2011 /PRNewswire/ -- ViroPharma Incorporated (Nasdaq: VPHM) reported today its financial results for the fourth quarter and year ended December 31, 2010.

In 2010, we:

  • Achieved a record $439 million in annual net product sales, including $177 million in net sales of Cinryze® (C1 esterase inhibitor [human]);
  • Attained non-GAAP adjusted net income of $157 million, representing 88 percent growth over the prior year; GAAP net income reached $126 million;
  • Delivered positive cash flows from operations of $194 million; and
  • Improved working capital to $561 million as of December 31, 2010, including cash, cash equivalents and short-term investments of $505 million;

  • Net sales were $121.6 million and $439.0 million for the fourth quarter and year ended December 31, 2010, respectively, as compared to $87.8 million and $310.4 million in the comparative periods of 2009, respectively.  This represents 38 percent growth in the fourth quarter and 41 percent growth for the year in net product sales.

    "2010 was an outstanding year for ViroPharma, and by focusing on the needs of our patients we were able to achieve excellent financial results," stated Vincent Milano, ViroPharma's chief executive officer.  "I'm proud of the work that our team did in 2010 to improve the lives of patients suffering from life threatening illnesses including hereditary angioedema.  Our work in 2011 will continue to build upon these efforts to foster brand loyalty by listening and responding to the needs of our patients, enhancing our patient support tools, providing an additional mode of administration of Cinryze, and globalizing the Cinryze experience.  On that topic, I am pleased to announce that we have recently submitted our responses to our European MAA Day 180 questions, and remain confident in our ability to gain Eur
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    SOURCE ViroPharma Incorporated
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