ViroPharma's stock surged yesterday after the company announced its third double-digit price hike on Vancocin since it acquired the antibiotic last December. A 20-unit package of Vancocin will now cost $242.10, up from $195.76. Wall Street loves higher prices for drugs and bid up ViroPharma stock by more than 30 percent. ViroPharma paid Eli Lilly $116 million plus royalties for the drug.
- read this AP report