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

October 20

Toronto Star, with FDA data, exposes weaknesses in Health Canada's clinical trial, inspection oversight

Crowdsourcing effort aims to fund updated online social media guide for sponsor interaction with patients

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

September

Today's fastest, most economical sponsors
Standout sponsors reveal how they shorten regulatory, clinical cycle times

From the trenches: Sites' eye view of state of the industry
CW’s first site focus groups uncover frustration with 'progress,' but a passion for their mission

Already a subscriber?
Log in to your digital subscription.

Purchase the September issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

August

Reality of costs and impact rain on Sunshine Act
Concerns mount over compliance burden on CROs, sponsors, unanticipated consequences for research

Cloud computing expanding into all areas of clinical trial conduct
Benefits outweigh the complexities, challenges of finding right vendors

Already a subscriber?
Log in to your digital subscription.

Purchase the August issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs