InterMune to divest Actimmune, focus deal cash on lung drug

InterMune Inc. will sell one drug to give a potential blockbuster treatment a better chance to thrive.

The Brisbane company (NASDAQ: ITMN) said Monday that it has reached a definitive agreement with Vidara Therapeutics International Ltd. to sell the rights to Actimmune for $55 million and a two-year royalty stream. The cash will be funneled into registration and commercialization of Esbriet, InterMune’s treatment for the fatal lung-scarring disease idiopathic pulmonary fibrosis, and research and development.