InterMune has agreed to sell the US and Canadian rights to its hepatitis C therapy Infergen to Valeant Pharmaceuticals for $113.5 million and performance payments of up to $22.5 million. Valeant will gain about $6.5 million in inventory from the Brisbane, CA-based InterMune and will hire 50 members of their sales and marketing staff. InterMune says the deal will reduce its operating costs by $50 million and allow it to focus more on a separate hepatitis C drug and another therapy for lung scarring. Infergen posted $22 million in sales last year.
- read this AP report for more information on the deal