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

July 6

FDA sued by advocacy groups seeking hepatitis C trials data

Google to test health-tracking wristband to collect clinical trial data

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

July

Integrated research partnerships build momentum
Research function provides infrastructure, leverages large pool of health systems' patients and data

'Right to Try' laws challenge clinical trial process
20 states pass, 20 more pending allowing access to study drugs without FDA and IRB approval

Already a subscriber?
Log in to your digital subscription.

Purchase the July issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

June

TransCelerate Biopharma turns three
High-profile consortium has made inroads fixing wasteful practices, but it still has more work ahead

Pharma industry improves its tarnished reputation
Delivering innovation, social responsibility will help rebuild trust

Already a subscriber?
Log in to your digital subscription.

Purchase the June issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs