Tags: ViroPharma | Shares | Report | Takeover

ViroPharma Shares Rise on Report of Takeover Interest

Monday, 17 June 2013 05:10 PM

Shares of ViroPharma Inc., the maker of a drug for a rare disease, rose the most in five months after a report that drug companies may be interested in buying the company.

The Exton, Pennsylvania-based biotechnology company gained 6.3 percent to $28.87 at the close in New York, the biggest single-day increase since Jan. 15. Reuters reported that ViroPharma is a potential acquisition target, citing unidentified sources familiar with the issue.

ViroPharma sells Cinryze, a drug for hereditary angioedema, a genetic disease that afflicts at least 6,000 people in the U.S. and can cause airway obstruction, according to a description on the company website. Sales of the drug were $327.1 million last year, representing 76 percent of the company’s $427.9 million 2012 revenue, according to data compiled by Bloomberg.

A spokeswoman for ViroPharma didn’t return a call asking for comment on the report.

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Shares of ViroPharma Inc., the maker of a drug for a rare disease, rose the most in five months after a report that drug companies may be interested in buying the biotech company.
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2013-10-17
Monday, 17 June 2013 05:10 PM
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