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Exhibit 99
ViroPharma Announces the Sale of Common Stock to American
Home Products As Part of Hepatitis C Alliance
Exton, PA, October 6, 2000, 2000 -- ViroPharma Incorporated (Nasdaq: VPHM) and
American Home Products Corporation (NYSE: AHP), through its Wyeth-Ayerst
Laboratories division, today announced that ViroPharma has sold to American Home
Products Corporation 96,059 shares of ViroPharma's common stock for $3,000,000
as a result of progress made under the companies' hepatitis C virus
collaboration. The price per share for the stock was based on a premium to a
trailing average price.
In December 1999, ViroPharma and Wyeth-Ayerst entered into an alliance to
develop and commercialize ViroPharma's lead small molecule antiviral drug
candidates for hepatitis C virus (HCV) and to discover, develop and
commercialize additional novel inhibitors of HCV. In this transaction, American
Home Products agreed to purchase shares of ViroPharma's common stock at the time
of completion of certain product development stages.
ViroPharma Incorporated is committed to the commercialization, development and
discovery of antiviral pharmaceuticals. The Company is focused on drug
development and discovery activities in viral diseases including viral
respiratory infection (VRI), hepatitis C and RSV disease. ViroPharma's most
advanced product candidate, pleconaril, is in late stage clinical development
for treatment of picornavirus diseases, including VRI.
Wyeth-Ayerst Laboratories, a division of American Home Products Corporation, is
a major research-oriented pharmaceutical company with leading products in the
areas of women's health care, cardiovascular and metabolic disease therapies,
central nervous system drugs, anti-inflammatory agents, anti-infectives,
vaccines, and generic pharmaceuticals. American Home Products Corporation is one
of the world's largest research-based pharmaceutical and health care products
companies. It is a leader in the discovery, development, manufacturing and
marketing of prescription drugs and over-the-counter medications. It is also a
global leader in vaccines, biotechnology, agricultural products, animal health
care and medical devices.
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