Viropharma Posts Record Sales of Vancocin, Driving 2Q Profit Surge to Top Street View

-- Drug developer Viropharma Inc. said Wednesday its second-quarter profit surged as sales of its colitis drug Vancocin surged.

The company earned $17.2 million, or 25 cents per share, compared with $5 million, or 11 cents per share, in the year-ago quarter.

The per-share earnings reflect an increase in the number of shares outstanding to about 69.8 million from 57.6 million.

The results beat Wall Street estimates. Analysts polled by Thomson Financial, on average, forecast earnings of 23 cents per share.

Revenue jumped 52 percent to $44 million from $29 million, with the bulk of the quarter's revenue coming from $43.8 million in Vancocin sales. Analysts expected revenue of $42.5 million.

The strong sales of Vancocin, which treats pseudomembranous colitis, an inflammatory disease of the colon, prompted Viropharma to reaffirm its full-year sales guidance between $160 million and $170 million.

Analysts are expecting $163.8 million in sales for the year.