QUOTE AND NEWS
FiercePharma  Jan 10  Comment 
Shire had hoped to pretty much have all of the shares of ViroPharma ($VPHM), the maker of rare disease drugs, pledged to its $4.2 billion buyout offer by the end of the year. But it didn't happen, and so it extended its $50 a share offer until...
Benzinga  Dec 27  Comment 
Shire plc (NASDAQ: SHPG) announces that it has extended the expiration of its previously announced tender offer by a wholly owned subsidiary of Shire for all of the outstanding common shares of ViroPharma (NASDAQ: VPHM) until midnight, New York...
Benzinga  Dec 11  Comment 
Shire plc (NASDAQ: SHPG) announces that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) relating to its previously announced tender offer by a wholly owned subsidiary of Shire for all outstanding shares of...
Benzinga  Nov 19  Comment 
In a report published Tuesday, Stifel analyst Stephen Willey downgraded the rating on ViroPharma (NASDAQ: VPHM) from Buy to Hold, and removed the $47.00 price target. In the report, Stifel noted, “We are downgrading shares of Viropharma Inc....
Benzinga  Nov 12  Comment 
In a report published Tuesday, J.P. Morgan analyst Geoff Meacham downgraded the rating on ViroPharma (NASDAQ: VPHM) from Overweight to Neutral, but raised the price target from $45.00 to $50.00. In the report, J.P. Morgan noted, “We are...
Benzinga  Nov 12  Comment 
StreetInsider.com  Nov 12  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/ViroPharma+%28VPHM%29+Reports+Statistically+Significant+Data+from+Cinryze+Prophylaxis+Study/8872271.html for the full story.
Benzinga  Nov 11  Comment 
The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday November 11, 2013: Shire to Acquire ViroPharma for $50.00/Share in Cash The Deal: Shire (NASDAQ: SHPG) and ViroPharma (NASDAQ: VPHM) announced that...
Benzinga  Nov 11  Comment 
ViroPharma (NASDAQ: VPHM) shares gained 25.52% to touch a new 52-week high of $49.43 after the company agreed to be acquired by Shire (NASDAQ: SHPG) for $50 per share. RDA Microelectronics (NASDAQ: RDA) shares rose 3.82% to reach a new 52-week...
StreetInsider.com  Nov 11  Comment 
* Shire plc (Nasdaq: SHPG) and ViroPharma Incorporated (Nasdaq: VPHM) announce that their Boards of Directors have unanimously approved, and the companies have entered into, a merger agreement pursuant to which Shire will acquire all the...
Wall Street Journal  Nov 11  Comment 
Shire has agreed to buy ViroPharma for $4.2 billion, extending its bet on the market for medicines treating rare diseases.




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ViroPharma Incorporated (NYSE: VPHM) is a pharmaceutical company that develops and sells two major drugs, Cinryze and Vancocin. In Octover of 2008, ViroPharma acquired Lev Pharmaceuticals, adding an injectable treatment for angiodema to its portfolio, Cinryze. Vancocin is an oral treatment for inflammation of the bowels (colitis). ViroPharma's operators are largely focused on the development and commercialization of these two products.

Business Growth

FY 2010 (ended December 31, 2010[1]

  • Net revenue increased 41% to $439 million.
  • Net income increased 88% to $126 million.

In 2010, revenue growth was driven by Cinryze, a drug used to treat hereditary angiodema, which earned revenue of $177 million for the year, up 82%. Vancocin, a drug used to treat inflammation of the bowels (colitis), brought in sales of $260 million, up 22% on the year.

Pipeline

ViroPharma's pipeline consists of developing new formulations and indications for Cinryze and Vancocin as well as working to market the drugs in other geographies.[2]

  • Cinryze: ViroPharma is partnering with Sanquin to develop a non-injectable version of Cinryze. This version has been moved through phase II trials, and is expected to initiate phase III trials by the end of 2011. In addition, ViroPharma received European approval for Cinryze in June of 2011[3] and is exploring other geographies world-wide.
  • Vancocin: ViroPharma is developing a less toxic version of Vancocin, and is currently initiating phase II trials for the treatment.

Trends and Forces

Generic Competition for ViroPharma Would Decrease Revenues

ViroPharma does not currently face significant competition for its two major drugs, Cinryze and Vancocin. However, an influx of generic competition could both lower drug prices and reduce ViroPharma's market share, decreasing the company's overall revenues. The major patent for Cinryze expires in 2015. While ViroPharma does not have any patent protection for Vancocin, much of this is due to the historical lack of a generic pathway, a gap that has been closed with the development of a regulatory pathway for follow-on biologics.[4] If companies develop generic versions of ViroPharma's drugs, revenue will decrease.

ViroPharma's Pipeline will Impact its Future Sustainability

ViroPharma is developing several different formulations and markets for its major drugs, Cinryze and Vancocin. These approvals, if attained, will extend the reach and the overall life of ViroPharma's products. However, the ability of ViroPharma to expand beyond these two drugs and diversify its product portfolio will impact its ability to maintain a sustainable business in the long-term.

Competition[5]

  • Cinryze: Cinryze does not have patent protection, but enjoys exclusivity provided by the FDA in the Orphan drug act. Once this exclusivity expires near the end of 2015, Cinryze will face generic competition.
  • Vancocin: The patents for Vancocin expired in 1996. However, Vancocin is a complex biologic drug, and any generic competition would require significant regulatory hurdles. However, on biologics could cut into ViroPharma's sales of Vancocin.

References

  1. ViroPharma Incorporated Reports Q4 2010 Financial Results
  2. VPHM 2011 10K
  3. ViroPharma’s HAE Drug Gets EU Nod
  4. Principles of Follow On Biologics
  5. ViroPharma Competition
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