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ViroPharma Incorporated Reports Fourth Quarter and Full Year 2011 Financial Results
Date:2/28/2012

EXTON, Pa., Feb. 28, 2012 /PRNewswire/ -- ViroPharma Incorporated (Nasdaq: VPHM) reported today its financial results for the fourth quarter and year ended December 31, 2011.

In 2011, we:

  • Achieved a record $544 million in annual net product sales, including $251 million in net sales of Cinryze® (C1 esterase inhibitor [human]), and $289 million in net sales of Vancocin® (Vancomycin Hydrochloride Capsules, USP);
  • Attained non-GAAP adjusted net income of $182 million; GAAP net income reached $141 million;
  • Delivered positive cash flows from operations of $171 million;
  • Utilized $170 million of cash to repurchase 9.2 million shares of ViroPharma stock; and
  • Finished the year with working capital of $537 million as of December 31, 2011, including cash, cash equivalents and short-term investments of $460 million.

  • Net sales were $145.6 million and $544.4 million for the fourth quarter and year ended December 31, 2011, respectively, as compared to $121.6 million and $439.0 million in the comparative periods of 2010, respectively.  This represents 20 percent growth in the fourth quarter and 24 percent growth for the year in net product sales. The fourth quarter Cinryze demand was satisfied through net sales of $66.7 million as reported and a reduction in the channel of about a week.

    "As evidenced by our financial and operational performance throughout the year, 2011 was clearly the most successful period in the history of our company," stated Vincent Milano, ViroPharma's chief executive officer. "Among the highlights were the approvals and launches of Cinryze and Buccolam® (midazolam, oromucosal solution) in Europe, continued strong growth of Cinryze in the U.S., and the approval of our Vancocin sNDA leading to modernized labeling and, we believe, three years of exclusivity.  We also significantly broade
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    SOURCE ViroPharma Incorporated
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