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

to $1.00 per share which may be paid upon the achievement of certain regulatory and commercial milestones. The first CVR payment of $0.50 per share (or $87.5 million) would become payable when either (i) Cinryze is approved by the FDA for acute treatment of HAE and the FDA grants orphan exclusivity for Cinryze encompassing the acute treatment of HAE to the exclusion of all other human C1 inhibitor products or, (ii) orphan exclusivity for the acute treatment of HAE has not become effective for any third party's human C1 inhibitor product by October 21, 2010. The second CVR payment of $0.50 per share ($87.5 million) would become payable when Cinryze reaches at least $600 million in cumulative net product sales within 10 years of closing of the acquisition.

Looking ahead in 2009

ViroPharma is providing guidance for the year 2009 as a convenience to investors. The following guidance provided by ViroPharma are projections, based upon numerous assumptions, all of which are subject to certain risks and uncertainties. For a discussion of the risks and uncertainties associated with these forward looking statements, please see the Disclosure Notice below.

For the year 2009, ViroPharma expects the following

  • Net product sales are expected to be $250 to $270 million. This guidance assumes no generic versions of Vancocin are approved in 2009 and excludes any revenue guidance for Cinryze.

  • Research and development (R&D) and selling, general and administrative (SG&A) expenses, including the impact of SFAS 123R, are expected to be $130 to $145 million, which includes approximately $25 million of expenses and previous commitments related to maribavir. SFAS 123R expenses are expected to be between $11 and $13 million.

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