ViroPharma may buy back some 2% convertibles via $150 million program

By Susanna Moon

Chicago, March 9 - ViroPharma Inc. said the company's board of directors authorized spending up to $150 million to repurchase its common shares and its 2% senior convertible notes due 2017.

Purchases may be made in the open market, through block transactions or privately negotiated purchases from time to time.

Funding for the purchases will come from cash, cash equivalents and short-term investments on the company's balance sheet and cash flows from operations. ViroPharma said it produced cash flows of $194 million for the year 2010.

ViroPharma is an Exton, Pa., biopharmaceutical company.

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