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
InterMune terminates Actimmune trial. Report
InterMune inks major collaboration with Roche. Report
Roche gains hep C candidate with InterMune pact. Report