ViroPharma Shares Rise on Report of Drug Company Interest
Stock Chart for ViroPharma Inc (VPHM)
ViroPharma Inc. (VPHM), 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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