Tuesday, May 22, 2012

InterMune to divest Actimmune, focus deal cash on lung drug

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.

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