EXTON, Pa., Sept. 3 ViroPharma Incorporated(Nasdaq: VPHM) and Lev Pharmaceuticals, Inc. (OTC Bulletin Board: LEVP) todayannounced that the waiting period required under the Hart-Scott-Rodino (HSR)Antitrust Improvements Act has expired in connection with ViroPharma'sproposed acquisition of Lev Pharmaceuticals.
Completion of the transaction, expected by the end of 2008, is subject tosatisfaction of other customary closing conditions, including approval of thestockholders of Lev.
About ViroPharma Incorporated
ViroPharma Incorporated is a biopharmaceutical company dedicated to thedevelopment and commercialization of products that address serious diseasestreated by physician specialists and in hospital settings. ViroPharmacommercializes Vancocin(R), approved for oral administration for treatment ofantibiotic-associated pseudomembranous colitis caused by Clostridium difficileand enterocolitis caused by Staphylococcus aureus, including methicillin-resistant strains (for prescribing information, please download the packageinsert at http://www.viropharma.com/Products.aspx). ViroPharma currentlyfocuses its drug development activities in diseases including cytomegalovirus(CMV) and C. difficile. For more information on ViroPharma, visit thecompany's website at www.viropharma.com.
About Lev Pharmaceuticals, Inc.
Lev is a biopharmaceutical company focused on developing andcommercializing therapeutic products for the treatment of inflammatorydiseases. Lev's lead product candidate, Cinryze(TM) (C1 inhibitor (human)), isbeing developed as a replacement therapy for hereditary angioedema (HAE), alsoknown as C1 inhibitor deficiency. Additionally, Lev is in the process ofprioritizing its C1 inhibitor development platform for the treatment ofselective other diseases and disorders in which inflammation is known orbelieved to play an underlying role.
Information set forth in this press release contains forward-lookingstatements, which involve a number of risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about thebenefits of the business combination transaction involving ViroPharma and Lev,including, among others, future financial and operating results, cost savings,enhanced revenues, ViroPharma's plans, objectives, expectations and intentionsand other statements that are not historical facts. The following factors,among others, could cause actual results to differ from those set forth in theforward-looking statements: disruption from the transaction making it moredifficult for ViroPharma and Lev to maintain relationships with customers,employees or suppliers; risks related to when and whether the proposedacquisition will be consummated, including whether due to the failure of Levstockholders to approve the transaction or otherwise; the risk that thebusinesses will not be integrated successfully; the risk that the cost savingsand any other synergies anticipated from the transaction may not be fullyrealized or may take longer to realize than expected; the risk that revenuesfollowing the merger will be lower than expected; competition and its effecton pricing, spending, third-party relationships and revenues; new informationarising out of clinical trial results; the risk that the safety and/orefficacy results of existing clinical trials for Cinryze(TM) will not supportapproval for a biologics license; the risk that the FDA will approve a productother than Cinryze(TM); for which a biologics license has been applied; therisk that the safety and/or efficacy of the two companies' other products andtechnologies will not support FDA approval of those products or technologies;the risk that the FDA may require Lev, or after the merger, ViroPharma, toconduct additional clinical trials for Cinryze(TM); the risk that the FDA mayinterpret data differently than Lev, or