Roche and InterMune have entered into a definitive merger agreement for Roche to fully acquire InterMune at a price of $74.00 per share in an all-cash transaction. The acquisition of InterMune, a Brisbane, California-based biotech company focused on the research, development and commercialisation of innovative therapies in pulmonology and fibrotic diseases, will allow Roche to broaden and strengthen its respiratory portfolio globally.
InterMune’s lead medicine pirfenidone is approved for idiopathic pulmonary fibrosis (IPF) in the EU and Canada and under regulatory review in the US. IPF is a progressive, irreversible and ultimately fatal disease characterised by progressive loss of lung function due to fibrosis, or scarring, in the lungs. Roche markets Pulmozyme and Xolair in the US and has other novel therapeutic medicines targeting respiratory diseases in clinical development.
Commenting on the transaction, Severin Schwan, Chief Executive Officer, Roche, said, “Our offer provides significant value to InterMune’s shareholders and this acquisition will complement Roche’s strengths in pulmonary therapy. We look forward to welcoming InterMune employees into the Roche Group and to making a difference for patients with idiopathic pulmonary fibrosis, a devastating disease.”
Commenting on the transaction, Dan Welch, Chairman, Chief Executive Officer and President, InterMune’s, said, “This merger recognises the significant value created by our team’s commitment, hard work and execution for more than a decade to develop and commercialise treatment options for IPF patients and their families. Roche’s global resources and scale will not only facilitate and accelerate our avision to bring additional innovative therapbility to deliver pirfenidone to more patients around the world, but also to realise our joint ies to patients with respiratory diseases.”
EP News Bureau – Mumbai
