InterMune Bought by Swiss Powerhouse Roche

Roche (RHHBY) is purchasing InterMune (ITMN) for $8.3B, or $74 per share in cash. Admittedly, this caught me off guard. The world’s leading provider of cancer care products is better known for blockbuster oncology drugs like Rituxan and Avastin. In hindsight, however, given that word had trickled out last week that the Swiss-based drug maker had suspended a phase 2 IPF trial of oral Vismodegib, it makes logistical sense that management would look to extend its pulmonary franchise beyond asthma drug Xolair and cystic fibrosis (Pulmozyme) with InterMune’s lead asset, Esbriet (pirfenidone).

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