InterMune to divest Actimmune

Thursday, May 24, 2012 09:14 AM

InterMune, a biotech based in Brisbane, Calif., has reached a definitive agreement with Vidara Therapeutics International, part of an international specialty pharmaceutical group of companies with operations in Ireland and the U.S., to sell its rights to Actimmune (interferon gamma-1b)

"Several years ago, we stopped investigating new uses for Actimmune and it became a tactical financial asset for InterMune,” said Dan Welch, chairman, CEO and president of InterMune. “The divesture of Actimmune will provide additional capital for InterMune to continue to focus on and invest in the registration and commercialization of Esbriet (pirfenidone) in Europe and elsewhere and to continue to advance our R&D programs.”

Vidara will pay InterMune $55 million in cash and will grant the former owner a two-year royalty stream. The transaction is expected to close during the second quarter of 2012, subject to satisfaction of certain closing conditions.

Welch added, “The cash infusion from this transaction combined with $377.2 million of existing cash and cash equivalents at the end of Q1 2012 will provide additional financial resources to execute our Vision 2015 strategic plan."

Share:          
CWWeekly

April 20

Christie Clinic, PMG Research's 12th clinical research site, expands its geographic reach north to Illinois

Clinipace acquires Accovion to expand European presence, following an infusion of equity that could lead to more deals

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

April

PSI, INC Research, Chiltern best with sites
Strategic outsourcing prioritizing, improving site relationships

Regulatory compliance an increasing burden on sites
Increased staff time, materials, storage eroding site operating profit

Already a subscriber?
Log in to your digital subscription.

Purchase the March issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

March

Novo Nordisk, Takeda, Servier, Celgene among top sponsors
New gains seen from patient- and site-centric initiatives

Patient reported outcomes take center stage
FDA combining PROs, clinical outcomes in its approval decisions

Already a subscriber?
Log in to your digital subscription.

Purchase the February issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs