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12:00 AM
 | 
Jul 21, 2008
 |  BioCentury  |  Strategy

Leveraging ViroPharma

Lev Pharmaceuticals Inc. might not seem like an obvious choice to be acquired by ViroPharma Inc., which has been focused on infectious diseases and transplant medicine. ViroPharma, however, says it's a clear fit with its strategy of building franchises within narrowly focused specialized hospital markets.

ViroPharma will acquire Lev for $442.9 million ($355.6 million in cash and $87.3 million in stock) and up to $174.6 million in milestones, for a potential total of $617.5 million. Separately, ViroPharma made a $20 million equity investment in Lev to ensure the company has sufficient operating capital to successfully launch its Cinryze for hereditary angioedema (HAE). This gives ViroPharma a 6% stake in Lev and brings the acquisition price to $462.9 million.

ViroPharma won't say when it expects...

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