ViroPharma 1Q net sales of Vancocin up 38.8%, net income falls to $8.2 million

By Lisa Kerner

Erie, Pa., May 4 - ViroPharma Inc. reported net sales of Vancocin of $29.2 million for the first quarter, a 38.8% increase from $21.1 million for the first quarter of 2005.

Operating income in the first quarter declined to $13.4 million from $17.4 million in the first quarter of 2005.

ViroPharma had net income in the first quarter of $8.2 million, or $0.12 per basis and diluted share, compared with $17.4 million, or $0.36 per diluted share, in the same period last year.

The company attributed the lower results to the effects of lower operating income and income tax expense of $5.5 million.

As of March 31, ViroPharma's working capital was about $179 million, a $12 million increase from Dec. 31.

Operational highlights for the first quarter include 39% growth of net product sales, Food and Drug Administration fast track designation of maribavir and approval of third-party manufacturing for Vancocin.

ViroPharma's guidance for 2006 includes net sales expectations of $160 million to $170 million, or 27% to 35% growth over 2005, and a 10% to 20% growth in operating income.

ViroPharma is an Exton, Pa.-based pharmaceutical company.

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