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ViroPharma Incorporated Reports Third Quarter 2012 Financial Results
Date:10/25/2012

EXTON, Pa., Oct. 25, 2012 /PRNewswire/ -- ViroPharma Incorporated (Nasdaq: VPHM) reported today its financial results for the third quarter ended September 30, 2012.

Since June 30, 2012, we:

  • Achieved $91 million in quarterly net product sales, including $85 million in worldwide net sales of Cinryze;
  • Received FDA approval of the Prior Approval Supplement (PAS) for industrial scale manufacturing for Cinryze;
  • Repurchased an additional 3.1 million shares of our common stock at a cost of approximately $80 million during the third quarter;
  • Announced $200 million extension of stock repurchase authorization;
  • Ended the third quarter with cash, cash equivalents and short term investments of $304 million;
  • Recorded GAAP net loss of $4.6 million, non-GAAP adjusted net income for the quarter was $7.5 million;
  • Presented interim data from current Phase 2 clinical evaluations of maribavir in treatment of asymptomatic acute CMV infections and VP-20621 for the prevention of recurrent C. difficile infections; and
  • Announced that the FDA has removed the temporary clinical hold of development of Cinryze subcutaneous administration with Halozyme's rHuPH20 technology.
  • Net sales were $91 million for the third quarter ended September 30, 2012, as compared to $143 million in the same three months of 2011. The decrease was the direct result of the impact of generic oral vancomycin entries into the market. Regarding Cinryze, during the quarter the U.S. channel inventory increased by approximately $2 million.  Net sales were $321 million for the nine months ended September 30, 2012, as compared to $399 million in the comparative period of 2011.

    "The third quarter of 2012 was a period of tremendous fundamental execution for ViroPharma," stated Vincent Milano, ViroPharma's chief executive officer. "
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    SOURCE ViroPharma Incorporated
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