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

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"While, clearly the early part of 2009 produced disappointing clinical results for maribavir, 2008 was a very successful year for ViroPharma -- from strong financial results to great execution in all aspects of our business to the transformational acquisition of Lev Pharmaceuticals and the launch of Cinryze. As a result we believe we have positioned ourselves with a number of growth drivers and multiple opportunities for success," stated Vincent Milano, ViroPharma's president and chief executive officer. "Those who follow our company can look for a number of exciting milestones throughout the upcoming year, such as progress on Cinryze, including the ongoing commercial launch and our acute indication sBLA with a June PDUFA date; continued success with Vancocin; the planned initiation of clinical studies for NTCD; and continued strong financial performance."

Net sales of Vancocin were $50.0 million for the fourth quarter of 2008 and $232.3 million for the year ended December 31, 2008, as compared to $47.7 million and $203.8 million in the respective 2007 periods.

Operating income for the year ended December 31, 2008 was $78.7 million. Our operating loss for the fourth quarter 2008 was $3.4 million. These amounts are compared to operating income of $115.8 million and $19.0 million for the year and fourth quarter of 2007, respectively. Operating income decreased in both comparative periods primarily due to increased amortization expense, the growth in the investment in our pipeline and increased SG&A costs.

Net loss in the fourth quarter ended December 31, 2008 was $1.0 million, compared to net income of $20.4 million for the same period in 2007. For the twelve months ended December 31, 2008, net income was $67.6 million, compared to $95.4 million for the same period in 2007. Net loss per share for the quarter ended December 31, 2008 was $0.01 per share, basic and
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SOURCE ViroPharma, Inc.
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