Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

ViroPharma Incorporated

Schedule of Ratio of Earnings to Fixed Charges

	Year
	1999		2000		2001		2002		2003
Net Loss from continuing operations	(29,500,038	)	(41,817,374	)	(78,481,204	)	(26,622,883	)	(36,941,939	)
Add:
Fixed charges	404,756		10,062,007		11,938,260		11,393,160		8,838,401
Earnings as adjusted	(29,095,282	)	(31,755,367	)	(66,542,944	)	(15,229,723	)	(28,103,538	)
Fixed Charges:
Interest (gross)	153,956		9,102,914		10,800,693		10,248,483		7,825,657
Portion of rent representative of the interest factor	250,800		280,830		319,110		358,962		400,253
Amortization of debt issuance costs	—		678,263		818,457		785,715		612,491
Total fixed charges	404,756		10,062,007		11,938,260		11,393,160		8,838,401
Deficiency of earnings to cover fixed charges	29,500,038		41,817,374		78,481,204		26,622,883		36,941,939
Rent expense	760,000		851,000		967,000		1,087,763		1,212,889
	33	%	33	%	33	%	33	%	33	%