Biopharmaceutical companies ViroPharma Inc. (Nasdaq: VPHM) and Lev Pharmaceuticals Inc. (OTCBB: LEVP) today announced a definitive merger agreement potentially worth $617.5 million to further joint efforts for the treatment of inflammatory diseases. Per the agreement, VioPharma will acquire Lev for $442.9 million, or $2.75 per Lev share, comprised of $2.25 per share in cash and 50 cents per share in ViroPharma common stock. The deal will be executed upon approval by the board of directors of both companies. The deal is scheduled to be completed in 2008, and specifies that ViroPharma will purchase $20 million of Lev common stock.