ViroPharma's Second Act: First a Tough One to Follow
In the year since biotech ViroPharma acquired Vancocin, it's transformed itself from a development-style biotech into an earnings-driven success. One result: a new shareholder base that likes regular profit increases and may not tolerate the lower margins that come with additional R&D spending or in-licensing costs. But with generics and other competitors on the near-term horizon, ViroPharma needs a dramatic second-act solution.
You may also be interested in...
Shire is buying ViroPharma at a steep premium to acquire its pipeline assets, notably C1 esterase inhibitor Cinryze, which the London-listed specialty pharma plans to expand internationally, initially to treat hereditary angioedema and later for other rare diseases.
Specialty pharma focuses on acquiring marketing rights to mature products underappreciated in their market areas.
In early September, Ligand Pharmaceuticals announced it had unloaded its entire portfolio of marketed compounds, bringing in $518 million. The move goes against the grain of conventional wisdom in the biopharma world these days, where companies are still scrambling for clinical and commercial assets to forward integrate their businesses.