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ViroPharma Incorporated Reports Fourth Quarter and Full Year 2008 Financial Results
Date:2/24/2009

-- Quarter Highlighted by Cinryze(TM) [C1 Inhibitor (human)] Commercial Launch --

EXTON, Pa., Feb. 24 /PRNewswire-FirstCall/ -- ViroPharma Incorporated (Nasdaq: VPHM) reported today its financial results for the fourth quarter and year ended December 31, 2008.

Key events since September 30, 2008 include:

Operational:

  • Closed on acquisition of Lev Pharmaceuticals, Inc. (Lev) in October 2008;
  • Initiated commercial launch of Cinryze for routine prophylaxis of hereditary angioedema (HAE);
  • Developed and successfully launched Cinryze patient access program, CinryzeSolutions(TM);
  • Launched new sales team in December for Cinryze;
  • Achieved net Vancocin(R) sales of $50 million during fourth quarter 2008; and
  • Increased research and development expenses by 70 percent over the fourth quarter of 2007, primarily driven by maribavir and Cinryze.

Development:

  • Filed supplemental Biologics License Application (sBLA) for Cinryze for treatment of acute attacks of HAE;
  • Granted priority review by the U.S. Food and Drug Administration for Cinryze sBLA for treatment of acute attacks of HAE, with a Prescription Drug User Fee Act (PDUFA) date of June 3, 2009; and
  • Discontinued maribavir clinical development program for prophylaxis against cytomegalovirus disease in transplant patients based on the preliminary analysis of phase 3 data.

Financial Results:

  • Achieved 16th consecutive quarter of positive cash flows from operations; and
  • Ended 2008 with working capital of $305 million, which includes cash, cash equivalents and short-term investments of $276 mi
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SOURCE ViroPharma, Inc.
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