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.
AbbVie and InterMune may have won at least a temporary reprieve in their fight to stop the EMA from releasing trial data on their drugs.
As a pioneer in the fibrosis field, InterMune has often been at the center of considerable buyout buzz. In the spring of 2011, for instance, the company had to pour cold water on fevered speculation that a deal was in the making after its drug Esbriet (pirfenidone) was approved in Europe.
One of the pioneers in the fibrosis drug field is opting to sell off an aging commercial product to help finance its pipeline work and what it hopes will be a final push for its top prospect in the U.S. market.
The roller coaster ride investors have been on for the past two weeks underscores an old bit of market wisdom: when the Dow and other indexes catch a cold, biotech gets pneumonia. By Friday analysts
Shares of Brisbane, CA-based InterMune ($ITMN) surged more than five percent yesterday after Bloomberg treated the market to a story that Goldman Sachs had been brought in to scout buyout offers for
Former InterMune CEO Scott Harkonen has been sentenced to six months of home confinement and ordered to pay a $20,000 fine for his part in disseminating a misleading press release in 2002. He also
InterMune ($ITMN) took a big step forward today with its announcement that it won European approval for pirfenidone, a new therapy for idiopathic pulmonary fibrosis that is being sold as Esbriet. The