Summary: ViroPharma's third quarter net income of $0.07 per share beat the Zacks Consensus Estimate by a penny. Quarterly revenues increased 24.2% year over year to $113.1 million, in line with the Zacks Consensus Estimate. The increase in revenues was fuelled by strong growth of Cinryze in the U.S. Shire announced that it will acquire ViroPharma for approximately $50 per share or $4.2 billion. We have downgraded our recommendation on ViroPharma to Neutral from Outperform. The company's shares surged significantly in the past few months on potential buyout rumors. However, with the news of Shire acquiring ViroPharma announced last month, the share price has already touched the offer price of $50. Hence, there is no potential for any further increase. Overview: Incorporated in Delaware in 1994, ViroPharma Incorporated (VPHM) is an international biotechnology company. Headquartered in Pennsylvania, the company develops and commercializes drugs specifically targeting unmet medical needs with particular focus on orphan diseases. Key drugs for the company include Cinryze for hereditary angioedema (HAE), Plenadren for the treatment of adrenal insufficiency (AI), Buccolam in Europe for the treatment of pediatric seizures, and Vancocin indicated for the treatment of C. difficile- associated diarrhea (CDAD). Interesting candidates in ViroPharma's pipeline include … Continue reading
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