Biotech
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Biopharmaceutical company Viropharma(VPHM - Cramer's Take - Stockpickr) topped earnings targets for its fourth quarter, but sales of its main product fell short. The Exton, Pa., company said Wednesday that it earned $20.4 million, or 25 cents a share, compared with $18 million, or 25 cents a share, in the year-ago period. The company's sales -- derived entirely from its Vancocin antibiotic -- rose to $47.7 million from $38.5 million in the year-ago quarter. Analysts surveyed by Thomson Financial were looking for a profit of 20 cents a share on sales of $50.4 million. Within the quarter, the company's Camvia drug received orphan drug designation, a special status given to products that are intended to treat rare diseases or conditions. Camvia is in late-stage development for the prevention of cytomegalovirus, or CMV, in patients who have stem cell or organ transplants. Looking ahead, ViroPharma forecast product sales of $210 million to $235 million in 2008, potentially exceeding analysts' average estimate of $210 million. Shares were up 15 cents, or 1.6%, at $9.38 in recent trading.
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