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ViroPharma Incorporated Reports Fourth Quarter and Full Year 2012 Financial Results
Date:2/27/2013

EXTON, Pa., Feb. 27, 2013 /PRNewswire/ -- ViroPharma Incorporated (Nasdaq: VPHM) reported today its financial results for the fourth quarter and year ended December 31, 2012.

In 2012, we:

  • Achieved $428 million in annual net product sales, highlighted by $327 million in Worldwide net sales of Cinryze® (C1 esterase inhibitor [human]);
  • Generated net sales of approximately $17 million in Europe;
  • Attained GAAP net income of $6 million; and non-GAAP adjusted net income of $51 million;
  • Delivered positive cash flows from operations of $43 million;
  • Utilized $180 million of cash to repurchase approximately 7 million shares of ViroPharma stock; and
  • Finished the year with working capital of $339 million, including cash, cash equivalents and short-term investments of $247 million.
  • Net sales were $106.5 million and $427.9 million for the fourth quarter and year ended December 31, 2012, respectively, as compared to $145.6 million and $544.4 million in the comparative periods of 2011, respectively.  The decline in net sales quarter over quarter and year over year was driven as a result of the loss of Vancocin revenues partially offset by Cinryze growth. The 2012 U.S. Cinryze net sales of $320.6 million included approximately $311 million of patient demand.  The balance represented additional inventory in the channel. 

    "ViroPharma enters 2013 in a strong position to generate significant growth for years to come," stated Vincent Milano, ViroPharma's chief executive officer. "Cinryze in the U.S. continues to exceed our expectations, our products in Europe are beginning to demonstrate traction as we continue to expand those launches throughout the EU, the pipeline is more robust than it has ever been in our company's history and financially our company is in a very good position to remain opportun
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    SOURCE ViroPharma Incorporated
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