ViroPharma buys back $45 million of convertibles due 2017

By Devika Patel

Knoxville, Tenn., March 24 - ViroPharma Inc. said it repurchased $45 million of its senior convertible notes due March 2017 for $21.2 million in a privately negotiated transaction.

The notes purchased represent 18% of the total issue.

Following this repurchase, there are $205 million of the notes outstanding. The repurchase also will reduce the company's interest expense for the remainder of fiscal 2009 by approximately $1.6 million.

ViroPharma is an Exton, Pa., biopharmaceutical company.

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