Roche to Acquire InterMune for $8.3 billion
Roche and InterMune, Inc. announced they have entered into a definitive merger agreement for Roche to acquire InterMune at a price of $74.00 per share in an all-cash transaction, a total transaction value of $8.3 billion on a fully diluted basis. The merger agreement has been approved by the boards of InterMune and Roche.
The acquisition of InterMune, a Brisbane, Calif.-based biotechnology company focused on therapies in pulmonology and fibrotic diseases, will allow Roche to broaden and strengthen its respiratory portfolio globally, the company reports. InterMune’s lead medicine pirfenidone is approved for idiopathic pulmonary fibrosis (IPF) in the European Union and Canada and is under regulatory review in the United States. Roche markets Pulmozyme and Xolair in the US and has other novel therapeutic medicines targeting respiratory diseases in clinical development.
Roche plans a smooth transition of InterMune employees and operations into the Roche organisation, ensuring readiness for an expected launch of pirfenidone in the US in 2014.
recommended an additional Phase 3 clinical trial to support the efficacy of pirfenidone. The results of this study, the ASCEND trial, were part of the new drug application (NDA) resubmission that InterMune made in May 2014. On 17
July 2014 pirfenidone received breakthrough therapy designation from the FDA. The target action date, or PDUFA date, for the pirfenidone NDA is Nov. 23 2014.