April 17, 2008 |
ViroPharma Inc., Exton, said in a U.S. regulatory filing today that it discontinued development of its experimental hepatitis C drug for safety reasons. The company was developing the experimental treatment, HVC-796, with Wyeth Pharmaceuticals. ViroPharma said it does not expect to continue to collaborate with Wyeth on future development of hepatitis C candidates. ViroPharma chief executive officer, Vincent Milano, said in a statement that the risk associated with potential liver toxicity "posed too high a hurdle to merit further development" of the drug.
July 16, 2008 |
ViroPharma Inc., of Exton, says it will pay $442.9 million for anti-inflammatory drug developer Lev Pharmaceuticals Inc., of New York, plus up to $174.6 million in bonuses if a Lev drug for a rare disease meets regulatory and sales goals. That works out to $2.75 in cash and stock, plus up to $1 more if targets are met, for each Lev share. The stock closed yesterday at $1.85 in over-the-counter trading. ViroPharma shares on the Nasdaq stock market closed at $10.62, down $1.92.
February 10, 2014 |
ViroPharma is no more. Done. Gone, including from the list that matters most: Philly50. The Exton-based pharmaceutical company was officially taken over by Shire P.L.C. on Jan. 24. Shire has a big operation in Wayne, but it is officially based in Ireland. ViroPharma was replaced by Beneficial Bank on The Inquirer's list of the 50 locally based companies with the largest market capitalization. "After thoroughly evaluating our strategic options we determined that this transaction is in the best interests of ViroPharma, our shareholders and our patients," Vincent J. Milano, ViroPharma's chief executive officer, said when the Shire deal was struck in November.
September 15, 2011
ViroPharma Inc., an Exton biopharmaceutical company, said today it will repurchase up to $200 million worth of its securities. The latest buyback comes after the company completed the repurchase of 8.1 million shares of common stock for $149 million under a program authorized in March. ViroPharma still has 70.6 million common shares outstanding. The new repurchase will target common shares and/or the company's 2 percent notes due in 2017. "Our recently completed credit facility as well as our existing cash . . . provide us with ample resources and flexibility to continue our pursuit of business development opportunities," chief financial officer Charles Rowland said.
August 24, 2004 |
ViroPharma Inc., a small Exton company that has never turned a profit, announced yesterday that Schering-Plough Corp. has exercised its option to license for $10 million ViroPharma's experimental treatment for the common cold. "Needless to say, our excitement here at ViroPharma is running high," chief executive officer Michel de Rosen said in a conference call with investors. It has been a bumpy road for Viro-Pharma, founded in 1994 by scientists who had a dream of developing the first medicine to kill the virus that causes the common cold.
December 23, 2011
ViroPharma Inc., of Exton, said it agreed to buy options that could total $90 million for the purchase of Meritage Pharma Inc., a private company based in San Diego that has focused on developing treatments for a chronic inflammatory disorder of the esophagus. ViroPharma paid $7.5 million already. It will pay $12.5 million more for drug development and exclusive right to buy the company after successful completion of the second phase clinical trials of oral budesonide suspension.
September 30, 2011 |
Frazer-based biotechnology company ViroPharma Inc. said Friday it paid $6.5 million to acquire rights from Intellect Neurosciences Inc. to a potential drug being developed as a treatment for a rare hereditary disease that damages the nervous system. ViroPharma said the deal also includes potential milestone payments that could total $120 million and royalty payments based on sales, if the drug is eventually approved. Intellect Neurosciences, which is based in New York, agreed to transfer to ViroPharma all of its intellectual property rights and data to its research-and-development program for the potential drug, labeled OX1. OX1 is being developed to treat Friedreich's Ataxia, a rare disease for which there are no treatments approved by the Food and Drug Administration.
September 11, 2012 |
ViroPharma Inc. will lease an additional 71,000 square feet of office space in Exton, nearly doubling its current space in Chester County. The specialty-biopharmaceutical firm, with 188 employees, will create 151 new jobs within three years, Gov. Tom Corbett said Monday. ViroPharma received $583,000 from the Pennsylvania Department of Community and Economic Development that included a $130,000 grant and $453,000 in job-creation tax credits. "For us it is about growth," said president and CEO Vincent J. Milano.
February 27, 2008 |
A day after its chief executive officer said he will step down, ViroPharma Inc. said today that profit rose 13 percent in the fourth quarter and 43 percent for all of 2007. The Exton drug company said net income for the three months ending Dec. 31 was $20.4 million, or 25 cents per share, compared to $18 million, or 25 cents per share for the same period a year earlier. Revenue for the latest quarter was $47.7 million, compared to $38.6 million a year ago. Annual 2007 net income was $95.4 million or $1.21 per share on revenue of $203.
January 19, 1999 |
Like many small pharmaceutical companies, ViroPharma's stock hinges on the results of its clinical trials. When the Exton company announced that a late-stage study of its antiviral drug in children didn't meet its primary goal in November, the stock plummeted 38 percent from $19.06 to $11.875 in one day. But when ViroPharma released positive results on a second study of the drug in adults two weeks ago, the stock shot up 25 percent from $10...