The news that Roche struck a deal to buy InterMune for $8.3 billion reportedly came at the expense of Chugai's investors.
Roche has won the behind-the-scenes auction for InterMune and its late-stage drug for idiopathic pulmonary fibrosis, announcing Sunday that it is buying up the U.S. biotech for $8.3 billion.
InterMune's promising treatment for a rare lung disease has put it in Big Pharma's crosshairs, according to a report, news that sent the biotech's shares soaring as much as 20% on Wednesday.
InterMune secured the FDA's breakthrough therapy designation for an in-development treatment for a rare lung disease, evening the regulatory score with rival Boehringer Ingelheim as the two angle for position on the U.S. market.
The European Medicines Agency has agreed to an accelerated review of Boehringer Ingelheim's much-watched lung disease therapy, likely shortening its path to market.
The latest download of data on a pair of rival therapies for lethal cases of idiopathic pulmonary fibrosis wowed researchers in the field, producing clear evidence of their ability to slow down the lung disease and offering patients a possible set of game-changing treatments.
InterMune watched its shares jump more than 15% after Boehringer Ingelheim posted some mixed results for its rival idiopathic pulmonary fibrosis treatment, all while the biotech has nearly tripled in value over the past 30 days.
Fresh off positive results for its late-stage lung drug, InterMune has attracted some M&A interest from a flock of pharmaceutical companies, according to Reuters, sending the biotech's shares up roughly 12% on Friday.
More than three years after the FDA sent InterMune back to the clinic for another Phase III study of its lung drug pirfenidone--Esbriet--for idiopathic pulmonary fibrosis, the biotech says it scored a win on the primary as well as two secondary endpoints for the lung-scarring treatment. And now InterMune says it's ready to go back to the FDA and lay out the data, hoping for an approval that will greatly expand the market for a drug now sold in Europe.
While W. Scott Harkonen, the former InterMune CEO convicted over an overzealous press release, is notorious in biotech circles, he and his nuanced case of wire fraud could land on a much bigger stage if the Supreme Court decides to listen in.