« Return to News | Drug Sponsors

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:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

June 17

New CISCRP study finds patient perceptions of trial participation safety, motives greatly improved

PwC: Volume and value of pharma, diagnostics deals soar in first quarter, as CRO sector waits on sidelines

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

June

Operating environment spurs out-of-the-box ideas
High cost, low success rates drive some sponsors to new monitoring, protocol design, patient-centric initiatives

Private equity interest in CROs could lead to more IPOs
Now flush with cash, many PE investors readying to cash out

Already a subscriber?
Log in to your digital subscription.

Purchase the June issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

May

INC Research, PPD, inVentiv named top CROs
Yet most CROs slipping in ability to manage site relationships

R&D cuts by sponsors spur more collaboration, innovation
New strategies share pipeline activity costs

Already a subscriber?
Log in to your digital subscription.

Purchase the May issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.