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ViroPharma Incorporated Reports Third Quarter 2008 Financial Results

- Quarter Highlighted by Record Vancocin(R) Sales and Increase to Net Sales

Guidance -

EXTON, Pa., Oct. 29 /PRNewswire-FirstCall/ -- ViroPharma Incorporated (Nasdaq: VPHM) reported today its financial results for the third quarter and nine-months ended September 30, 2008.

Key events since June 30, 2008 include:


-- Dosing completed in Phase 3 study of maribavir in stem cell transplant

(SCT) patients; and

-- Patient enrollment continued in Phase 3 study of maribavir in solid

organ (liver) transplant patients;


-- Net sales of Vancocin(R) achieved a record $66 million;

-- Research and development expenses increased by 43 percent over the

third quarter of 2007, primarily driven by investments in maribavir and

NTCD; and

-- Selling, general and administrative expenses increased 56 percent over

the third quarter of 2007 due to increased investments in our European

operations, our Vancocin sales force, additional medical education

activities and increased marketing efforts;

Business Development:

-- Acquisition of Lev Pharmaceuticals completed for $442.9 million of

upfront consideration, or $2.75 per Lev share, comprised of $2.25 per

share in cash and $0.50 per share in ViroPharma common stock;

-- Contingent consideration of up to $1.00 per Lev share, or $174.6

million may be paid on achievement of certain regulatory and commercial

milestones; and

-- FDA approved Cinryze(TM) for prophylaxis of hereditary angioedema;

Financial Results:

-- Operating income was $33 million;

-- Working cap

SOURCE ViroPharma Incorporated
Copyright©2008 PR Newswire.
All rights reserved

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