ViroPharma Incorporated, based in Exton, reported its second quarter financial results were a record. Net product sales were $109 million, buoyed by a 58% increase in sales of their Cinryze product, that brought in $40 million.

This has a positive effect on the company’s cashflow and working capital.

The company also reported working on other new products and studies of new applications for existing products.

“Overall, this was a period of substantial progress and we look forward to continued execution throughout the rest of 2010 and in the years ahead.”
Vincent Milano, ViroPharma’s CEO

The company says they do not believe that health care reform will materially impact their net sales of Vancocin or Cinryze in the near term.

Efficiencies lowered cost of sales, due to the effect of the step up in inventory recorded, partially offset from increased Cinryze volume. Cost of sales increased for the six months ended June 30, 2010 by $9.5 million as compared to the same period in the prior year due to the increase in Cinryze units sold, partially offset by the impact of the step-up on 2009 cost of sales related to the acquisition of Lev ($6.2 million).

ViroPharma tax expense for the past two quarters was $18.4 million and $5.6 million

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