US orphan-drug maker InterMune evokes takeover interest
08 Mar 2014
InterMune Inc, a US biotechnology company focused in treating fatal scarring of the lungs, has evoked interest among several pharmaceutical companies, Reuters reported on Friday citing people familiar with the matter.
''While no formal sale process is under way and a deal is not imminent, a handful of larger rivals are exploring a bid for the $2.7 billion orphan-drug maker,'' the report said.
InterMune had put itself for sale in 2011 but abandoned the process over uncertainty of the data for its pirfenidone drug, the report added.
However, rivals have shown interest now after InterMune last month announced positive late-stage trial results for pirfenidone, a treatment for idiopathic pulmonary fibrosis.
InterMune is a biotechnology company that focuses on the research, development, and commercialisation of therapies for pulmonology and orphan fibrotic diseases in North America and Europe.
Its main area of focus is in pulmonology therapies for the treatment of idiopathic pulmonary fibrosis (IPF), a progressive and fatal lung disease.
Pirfenidone, the only medicine approved for IPF anywhere in the world, is marketed by InterMune in the EU and Canada as Esbriet and is currently in a Phase 3 clinical trial to support regulatory registration in the US.
The California-based company posted net loss of $219 million in 2013 on revenues of $70.3 million.
