InterMune slashes staff on heels of trial failure

Two weeks after halting its trial of Actimmune after analyzing disappointing survival data, InterMune is dropping the axe on half of its staff in a bid to shave expenses by $40 million to $50 million next year. A total of 116 workers will lose their jobs in the restructuring. The company said it is switching focus to its late-stage trial of pirfenidone in idiopathic pulmonary fibrosis and on ITMN-191, an HCV protease inhibitor in early stage clinical development with Roche. Strong enrollment for its pirfenidone trial should allow it to get started several months early, company officials announced.

- here's the release from InterMune
- read the report from TheStreet.com

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