Oppenheimer Reiterates Outperform, Raises PT to $33 on ViroPharma

Oppenheimer maintains its Outperform rating on ViroPharma VPHM as new Vancocin label provides three years of exclusivity. Oppenheimer says, “Modernization of Vancocin Label Likely to Provide Three-Year Exclusivity. Vancocin's modernized label includes updated safety/efficacy data related to treating C. difficile. As such, we believe Vancocin meets requirements for exclusivity beginning today (anticipate FDA confirmation during 1Q12) through YE2014, quelling concerns of a generic Vancocin entrant which was largely expected to occur during 2012.” VPHM closed at $27.80 per share on Wednesday.