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Viropharma

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NEWS
April 17, 2008 | INQUIRER STAFF
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.
BUSINESS
July 16, 2008 | By Joseph N. DiStefano INQUIRER STAFF WRITER
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.
BUSINESS
February 10, 2014 | By David Sell, Inquirer Staff Writer
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.
NEWS
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.
BUSINESS
August 24, 2004 | By Linda Loyd INQUIRER STAFF WRITER
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.
NEWS
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.
NEWS
September 30, 2011 | ASSOCIATED PRESS
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.
BUSINESS
September 11, 2012 | By Linda Loyd, INQUIRER STAFF WRITER
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.
NEWS
February 27, 2008 | INQUIRER STAFF
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.
BUSINESS
January 19, 1999 | By Andrea Ahles, INQUIRER STAFF WRITER
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...
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ARTICLES BY DATE
BUSINESS
November 21, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Shire P.L.C. , the drugmaker that prospered by persuading Americans to use amphetamines like Adderall and Vivance to control attention deficit hyperactivity disorder, plans to move its headquarters and more than half the 970 jobs there from the Chesterbrook Corporate Center near Valley Forge to Lexington, Mass., workers were told in a meeting Wednesday. Just two years ago, the company, incorporated on the island of Jersey, a British tax shelter, announced plans to build a larger Philadelphia-area campus, under then-chief executive Angus Russell . But Shire's current boss, Flemming Ornskov , a Harvard graduate, prefers the Boston area.
BUSINESS
September 8, 2014 | By David Sell, Inquirer Staff Writer
Antibiotics are an odd category of pharmaceuticals, and Austria-based Nabriva Therapeutics is opening a Philadelphia-area office in hopes of finding a niche in that group. Some antibiotics are used only in humans, some only in animals, but some are used in both. Most adults have come to accept antibiotics so readily that the major problem is overuse. And overuse can mean developing resistance to medicine that used to be very effective. That has prompted efforts to control their use. The New York Times reported Wednesday that the chicken producer Perdue will stop giving antibiotics to its hatching chicks because they will eventually be eaten by humans, thereby contributing to the general problem of antibiotic resistance in humans.
BUSINESS
April 7, 2014 | By David Sell, Inquirer Staff Writer
Change is good (sometimes). Change is inevitable. Change comes to Philly50. The first quarter of 2014 is history, so it's time to review changes or possible changes to the only list that matters. Three Philadelphia-area companies with high market capitalizations that were on the list Jan. 5, the first Sunday of 2014, were gone from the list on Sunday, March 30. Three companies took their place. One company on the list for several years might soon exit. The Philly50 committee will meet soon at an undisclosed location to mull the issues.
BUSINESS
February 10, 2014 | By David Sell, Inquirer Staff Writer
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.
BUSINESS
November 13, 2013 | By David Sell, Inquirer Staff Writer
Drugmaker Shire P.L.C. said Monday that it would pay $4.2 billion for Exton-based ViroPharma Inc. Shire is headquartered in Ireland, but its leadership and two-thirds of its employees work in the United States, including 1,500 employees and contractors in Tredyffrin Township. The $4.2 billion translates to $50 per share, a 27 percent premium to ViroPharma's closing share price Friday. Shire closed Monday up 93 cents at $135.33, while ViroPharma rose $10.04 to close at $49.42.
BUSINESS
October 21, 2013 | By Linda Loyd, Inquirer Staff Writer
Shares of ViroPharma Inc., a drugmaker with headquarters in Exton that specializes in medicines for rare diseases, soared after recent reports that the European pharmaceutical companies Sanofi and Shire P.L.C. might be interested in buying the company. ViroPharma stock closed Sept. 17 at a 13-year high of $40.78. Since then, some analysts say, it has become unclear whether the buyout will happen. "A deal would make sense, but it's still speculative," said Akiva Felt, biotechnology analyst with Oppenheimer & Co. in San Francisco.
BUSINESS
September 15, 2013 | By David Sell, Inquirer Staff Writer
Shares of Exton-based ViroPharma Inc. rose more than 28 percent in trading Friday after Bloomberg News reported that the drugmaker had hired Goldman Sachs to help it with takeover inquiries from companies including Sanofi and Shire. ViroPharma, which has focused on drugs to treat rare diseases, has only two products in the United States and three on the market in Europe. The top seller is Cinryze, an injectable medicine for an inflammatory condition called hereditary angioedema that can attack any part of the body.
BUSINESS
May 23, 2013 | By Mike Armstrong, Inquirer Columnist
Poptent , the video-production outfit with a major office in Conshohocken that uses crowdsourcing to produce content, has named a new CEO. Nick Pahade will succeed Rick Parkhill , the California investor who founded Poptent in 2007 to match independent filmmakers with Fortune 100 companies and ad agencies to generate content at about one-seventh the cost of traditional production. Starting June 3, Pahade, who lives in the Princeton area, will be based out of the Conshohocken headquarters, where about 30 of Poptent's 55 employees work.
BUSINESS
February 28, 2013
In the Region Casey appeals for airline jobs   U.S. Sen. Bob Casey (D., Pa.) appealed to US Airways and American Airlines to retain jobs in Pennsylvania, including 1,900 in Pittsburgh, after the carriers merge. Casey wrote to the chief executives of both airlines urging them to keep an aircraft maintenance facility and operations control center in Pittsburgh, and to add flights between smaller Pennsylvania cities to support the growing Marcellus Shale industry. Airline officials could not be reached for comment.
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