Tim Hortons (NYSE: THI) shares were also up, gaining 19.68 percent to $75.21 following the confirmation of merger talks. Leading the sector was strength from InterMune (NASDAQ: ITMN) and RTI Surgical (NASDAQ: RTIX). https://online.wsj.com/articles/roche-to-acquire-intermune-for-8-3-billion-1408896002. Meanwhile, top decliners in the sector included Greif (NYSE: GEF), down 5.8 percent, and Endeavour Silver (NYSE: EXK), off 3.2 percent. means the Product Acquisition Agreement by and between Seller and InterMune, dated November 28, 2005. Roche will fully acquire InterMune for US$ 74.00 per share in an all-cash transaction corresponding to a total transaction value of US$ 8.3 billion. Swiss pharmaceutical company Roche has said it will acquire California-based biotechnology firm InterMune for $8.3 billion, in a deal that allows Roche to strengthen its respiratory therapy portfolio. brisbane, calif., sept. 19, 2014 /prnewswire/ -- intermune, inc. (nasdaq: itmn) today announced that it entered into a memorandum of understanding to settle the litigation in the delaware court. Attorney Advertising. The acquisition of InterMune, a Brisbane, California based biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and fibrotic. 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," he said. Earnout Amount has the meaning set forth in Section 1.9(a).. Earn-Out Amount shall have the meaning set forth in Section 4.3(a).. Earnout Period has the meaning set forth in Section 2.5(a)(iii).. Earnout Payment has the meaning set forth in Section 2.3(b).. Earn-Out Payment has the meaning set forth in Section 2.3(a).. Earn-Out Period has the meaning set . It is Roche's largest acquisition since it purchased the 40% of Genentech it did not already own for $47 billion in 2009. . Cravath is representing RWE, alongside Hengeler Mueller, in connection with the transaction. In trading on Monday, basic materials shares gained by just 0.17 percent. Contact Email ir@intermune.com. | June 26, 2022 The news of InterMune's acquisition by Roche has led to a rally in the biotech ETFs space. Shares of Burger King Worldwide (NYSE: BKW) got a boost, shooting up 19.01 percent to $32.26. Competition to make headway in the respiratory market has already been heating up. View Corporate Tree. Browse. The takeover would allow the Swiss company to expand its presence in the treatment of respiratory disorders, one of the world's biggest drug markets. The Swiss multinational giant is willing to pay a high price for the Californian company that has a drug for idiopathic pulmonary fibrosis, which has not yet turned a profit. Roche acquired Esbriet six years ago with its $8.3 billion Intermune acquisition, but the Basel-based drugmaker has since written down Intermune's value by billions as Esbriet's $1.1 billion in. InterMune, Inc. Subsidiary Company. It is a serious incurable disease. About. Roche Holding AG Under the terms of the agreement,. BASEL, Switzerland, Aug. 24, 2014 /PRNewswire/ -- Roche and InterMune, Inc. today announced they have entered into a definitive merger agreement for Roche to fully acquire InterMune at a. . Silver traded down 0.43 percent Monday to $19.38, while copper rose 0.29 percent to $3.23. On August 24, 2014, Roche and InterMune, Inc. announced they have entered into a definitive merger agreement for Roche to acquire InterMune at a price of US$74.00 per share in an allcash transaction with a total equity value of US$8.9billion. I cover news on drugs and R&D in the pharma industry. The biotech had attracted widespread industry interest, according to people familiar with the matter, because it has a drug, Esbriet, already approved in Europe and Canada. The InterMune purchase, together with bolt-on acquisitions totalling USD2.5bn (incl. German pharmaceutical group Boehringer Ingelheim has a rival drug candidate called nintedanib, which also is under U.S. regulatory review. Burger King Worldwide (NYSE: BKW) is in talks to acquire Canadian doughnut chain Tim Hortons (NYSE: THI). In 2019, we celebrated our bicentennial. Create Alert. High Related Markets. Cravath, Swaine & Moore LLP. Contracts. The disease tends to attack middle-aged and older adults. Roche is offering $74 per share in an all-cash transaction, which is 38% higher than InterMunes $53.80 price at close of business on Friday. Data Snapshot. A previous drug being tested for pulmonary fibrosis failed in clinical trials. 2014 Benzinga.com. In pulmonology, they are focused on therapies for the treatment of idiopathic pulmonary fibrosis (IPF), a progressive . Zippia gives an in-depth look into the details of Intermune, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Intermune. The driver for Roche was to gain access to InterMune's drug, pirfenidone (trade name,. This transaction represents the divestiture of the entire business unit including the equity interests of BankDirect and the associated loan balances held by Texas Capital Bank and no parent funding, deposits or capital will be transferred. InterMune is "focused on the research, development and. Although Esbriet hasn't been approved in the U.S., it is as close to a sure bet as Roche could ask for, given the drug's approval in Europe and Canada. Greif (NYSE: GEF) shares tumbled 5.73 percent to $47.42 after the company cut its FY14 earnings forecast. In 2012, Roche gave up a chance to buy gene-sequencing firm Idiopathic pulmonary fibrosis, which affects about 100,000 people in the U.S., has been an especially daunting medical target. The preliminary reading of the Markit services PMI fell to 58.50 in August, versus a prior reading of 60.80. The acquisition comes as . Idiopathic means there is no known cause. As Roche CEO, Severin Schwan, said in the press release announcing the merger: While Roche was making this move, rumors have again surfaced that Pfizer will make another run at acquiring AstraZeneca. . Researchers aren't sure what causes it, though they believe genetics play a role. | Advanced search Log in. Under the terms of the transaction, Pfizer will acquire all the outstanding shares of GBT for $68.50 per share in cash, for a total enterprise value of approximately $5.4billion, including debt and net of cash acquired. The acquisition, which has been recommended by the boards of both companies, is the largest by Roche since 2009, when it . The InterMune acquisition is the largest since 2009 when Roche spent $46.8 billion to acquire the remaining 44% of Genentech. Both companies say they expect pirfenidone will be launched in the US this year. A Roche InterMune acquisition deal worth $8.3 billion has been agreed by the two companies. Differing philosophies can also lead to differences in employee engagement. Related to Intermune Earnout Amount. Shares of Qihoo 360 Technology Co (NYSE: QIHU) were down 6.93 percent to $94.70 after the company reported Q2 results. The acquisition of InterMune, a Brisbane, California based biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and fibrotic diseases, will allow Roche to broaden and strengthen its respiratory portfolio globally. Overview in the case of Philip Paul Vs Intermune Inc Etal number CIV530304 in sanmateo, ca Will Cellceutix (OTCMKTS:CTIX) Be A Roche Bolt On Acquisition ?This is a sweet meditation that I am echoing from Investors Hub.Certainly some Golden Apples in Pictures of Silver.Thanks to. The medication has been approved for idiopathic pulmonary fibrosis (IPF) in the European Union and Canada, where it is marketed as Esbriet. As the tissue gets thicker it becomes more difficult for the lungs to move oxygen into the bloodstream. The Swiss pharma major has agreed to acquire California-based InterMune for $74 per share in cash in order to gain control of a pipeline of respiratory and fibrotic disease therapies including Esbriet (pirfenidone) for idiopathic pulmonary fibrosis (IPF), which is already on the market in the EU and Canada and is under regulatory review in the US. The other seeks to make huge take-overs and then gain synergies by slashing costs, closing sites, and eliminating thousands of jobs. Our offer provides significant value to InterMunes shareholders and this acquisition will complement Roches strengths in pulmonary therapy. A decision on that medication is expected in February 2015. Roche and InterMune, Inc. announced that Roche's wholly owned subsidiary Klee Acquisition Corporation has accepted for payment all shares validly tendered pursuant to its tender offer for all outstanding shares of common stock of InterMune, Inc. at USD 74.00 per share in cash The big exception was its acquisition of the part of biotechnology pioneer Genentech that it did not already own for $46.8 billion in 2009. . Consensus forecasts compiled by Thomson Reuters Pharma peg annual sales at greater than $1 billion in 2019 a nice addition to Roches stable of pulmonary compounds including Xolair (asthma) and Pulmozyme (cystic fibrosis). This table shows a brief introduction of acquisition situation of the company and its subsidiaries respectively. Opinion: Your Duty as a Voter Is to Take the Election Seriously, Opinion: Don Bolduc May Pull Off an Upset in New Hampshire, Opinion: What to Expect in the 2022 Midterms, Opinion: Elon Musk Makes an Offer You Can Refuse, Putinisms: Vladimir Putins Top Six One Liners, Ukrainians Sift Through Debris; Civilians Urged to Leave Eastern Regions, WSJ Opinion: Mar-a-Lago and the Swamp's Obsession With Donald Trump, Opinion Journal: The Trump-Modi Friendship, Mortgages, Cars and Credit Cards: How Interest-Rate Hikes Are Hitting Americans' Wallets. Resources. LONDON/ZURICH, Aug 24 (Reuters) - Roche Holding AG has agreed to buy U.S. biotech company InterMune Inc for $8.3 billion in cash, marking the latest multibillion-dollar deal in a consolidating. InterMune (NASDAQ: ITMN) shares shot up 35.49 percent to $72.89 after Roche (OTC: RHHBY) announced its plans to acquire InterMune for $74.00 per share in cash. 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.. Andrew Morse in Zurich contributed to this article. The S&P also rose, gaining 0.64 percent to 2,001.04. Write to Jonathan D. Rockoff at jonathan.rockoff@wsj.com and Hester Plumridge at Hester.Plumridge@wsj.com, Copyright 2022 Dow Jones & Company, Inc. All Rights Reserved. Innovation Word Cloud. Esbriet aims to treat a lung-scarring condition called idiopathic pulmonary fibrosis, which currently lacks an approved therapy in the U.S. Pharmaceutical executives look for such opportunities because companies can charge high prices for new drugs involving poorly treated diseases. LONDON Additionally, State Farm will commit $300million to an opportunity fund to support product and technology innovation, customer growth and marketing, and Google has separately agreed to commit an incremental $150million, raising its total success fund commitment to $300million. Approval in the U.S., he said, "would mean for the first time there is a treatment for these patients.". Roche has just announced the acquisition of the U.S. biotech company InterMune for $8.3 billion. The all-cash deal values InterMune at $74 per share, or a 38% premium to Friday's . InterMune's $8.9 Billion Acquisition by Roche August 25, 2014 On August 24, 2014, Roche and InterMune, Inc. announced they have entered into a definitive merger agreement for Roche to acquire InterMune at a price of US$74.00 per share in an allcash transaction with a total equity value of US$8.9 billion. Roche gains access to InterMune's lead drug Esbriet (pirfenidone), which treats idiopathic pulmonary fibrosis (IPF), a rare but fatal disease characterized by progressive loss of lung function. Consequently, the brain and other organs in the body do not get enough oxygen. LONDON Roche Holding said Sunday it would pay $8.3 billion for a California biotech firm that has yet to turn a profit on a new drug to treat a deadly lung diseasethe latest gamble by a. Cravath is representing Texas Capital in connection with the transaction. Back in May, Pfizer offered a whopping $118 billion to buy AstraZeneca, but this offer was rejected. The Cravath team included partners Faiza J. Saeed and Ting S. Chen and associates Amanda R. Fenster, Jennifer L. Tanaka and Jennifer Uren on M&A matters; partner Michael L. Schler and associate Jay S. Gill on tax matters; partner Eric W. Hilfers and associate Julia L. Onorato on executive compensation and benefits matters; partner Christine A. Varney and associate Margaret Segall DAmico on antitrust matters; and partner David J. Kappos and associate Benjamin D. Landry on intellectual property matters. This is Roche Holding's 2nd largest (disclosed) transaction. Cramer: Behind Roche's InterMune Deal The acquisition is a symbol of a much bigger trend. . The pricing reflects the value the medicine brings, Mr. Welch said. The Chicago Fed National Activity Index rose to 0.39 in July, versus economists expectations for a reading of 0.20. Analysts wonder whether the Roche InterMune acquisition is a wise move. Roche's offer of $74 a share represents a 38% premium over B.A., 1987, University of California, Berkeley, J.D., 1998, University of Chicago Law School, J.D., 1986, Georgetown University Law Center, B.A., 1977, State University of New York, Albany, J.D., 1990, University of California, Berkeley, School of Law, B.S., 1983, University of California, Davis, InterMunes $8.9Billion Acquisition by Roche, RWE AGs $6.8Billion Acquisition of Con Edison Clean Energy Businesses, ADTs $1.2Billion Equity Investment from State Farm, Texas Capital Banks $3.4Billion Sale of BankDirect Capital Finance to Truist, Global Blood Therapeutics $5.4Billion Acquisition by Pfizer. Roche CEO, Severin Schwan, said regarding the transaction: We are very pleased that we reached this agreement with InterMune. The. The company's products are approved for the treatment of patients with severe, malignant osteopetrosis and chronic granulomatous disease. Follow this author to stay notified about their latest stories. Scar tissue buildup in the lung becomes so thick that lungs have trouble supplying the brain and other organs with oxygen. Analysts forecast InterMunes drug pirfenidone, which is still awaiting FDA approval, will generate about $1 billion a year. Description. Patients often die three to five years after diagnosis. Cravath is representing GBT in connection with the transaction. The company's first compound failed. In commodity news, oil traded down 0.12 percent to $93.54, while gold traded down 0.27 percent to $1,276.80. Rival drugmaker, Boerhinger Ingelheim has an IPF drug candidate called nintedanib, which the FDA is currently reviewing. The Swiss company has only two such drugs on sale in the U.S.: Xolair for severe and allergic asthma and Pulmozyme for cystic fibrosis. This offer represents a premium of 38% to InterMunes closing price on August22, 2014, and a premium of 63% to InterMunes unaffected closing price on August12, 2014. Roche to Acquire InterMune for $8.3B August 25, 2014 Roche plans to acquire InterMune for $8.3 billion cash, in a deal that expands the buyer's respiratory product portfolio with the seller's. Remember . The drug also could potentially treat other diseases marked by tissue scarring in the liver and kidney. Swiss pharmaceuticals group Roche revealed this week that it has agreed to acquire California-based biotechnology company InterMune Inc. in a deal worth $8.3 billion. In connection with State Farms equity investment, ADT will be commencing a selftender offer for up to 133.3million shares of its outstanding common stock and Class B common stock at $9 per share, to be funded by the proceeds from the State Farm equity investment. Celebrating 200 years of partnership. allowing it to absorb the InterMune acquisition at the current . . This is Roche Holding's 13th transaction in the Life Science sector. In 2010, the FDA rejected Esbriet, whose chemical name is pirfenidone, asking for more data to prove effectiveness. The Pfizer major acquisition strategy appears to have become a core of its growth plan. Mr. Welch also served as Chairman of InterMune from May 2008 to September 2014. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. 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. It has sold the drug under the name Esbriet in Canada since 2011 and received European authorization in 2012. Those additional IP rights include patents that relate to TNF-alpha based activities of pirfenidone. The Brisbane, Calif.-based company has one product, pirfenidone, a treatment for idiopathic pulmonary fibrosis (IPF), a progressive and ultimately fatal lung disease. Midway through trading Monday, the Dow traded up 0.64 percent to 17,110.26 while the NASDAQ surged 0.63 percent to 4,566.93. Shares of Burger King Worldwide . On August 24, 2014, Roche Holding acquired life science company InterMune for 8.3B USD Acquisition Highlights. Phone Number (415) 466-2200. milestone payments), takes Roche's cumulative announced acquisition spend so far in 2014, to USD10.8bn, which will be financed by a combination of cash, commercial paper and bond issuance. This behavior was not unique in Pfizers history, as it had made previous similar acquisitions for Warner-Lambert ($112 billion in 2000), Pharmacia ($60 billion in 2004) and Wyeth ($68 billion in 2009). The drug has been granted approval in both Canada and Europe and has sold. Qihoo 360 reported Q2 adjusted EPADS of $0.50 on revenue of $317.90 million. The acquisition adds to AbbVie's already comprehensive pipeline and strong growth prospects. Define InterMune Agreement. Meanwhile, the German DAX rose 1.83 percent and the French CAC 40 surged 2.10 percent. the company's chief executive. As Roche CEO, Severin Schwan, said in the press release announcing the merger: We are very pleased that we reached this agreement with InterMune. On September 6, 2022, Texas Capital Bancshares, Inc. (Texas Capital) announced it has entered into a definitive agreement to sell BankDirect Capital Finance, LLC (BankDirect), its insurance premium finance subsidiary, to AFCO Credit Corporation (AFCO), an indirect whollyowned subsidiary of Truist Financial Corp. (Truist), in an allcash transaction for a purchase price of approximately $3.4billion. GlaxoSmithKline, PsstTheres a Hidden Market for Six-Figure Jobs. It has also been developing a compoundcalled lebrikizumabfor severe asthma. The eurozones STOXX 600 gained 1.10 percent, the Spanish Ibex Index climbed 1.81 percent, while Italys FTSE MIB Index surged 2.3 percent. It is pretty clear from these statements and its behaviors that Roche looks at these recent acquisitions as a growth strategy focused on building new expertise into the organization and not necessarily obtaining a major asset like pirfenidone and then dismantling the acquired company. Markets Open Higher; Burger King In Talks To Buy Tim Hortons, Oil Prices Fall; NetApp Upgraded At Needham. On September 6, 2022, ADT Inc. (ADT) and State Farm announced that State Farm has agreed to make a $1.2billion equity investment in ADT to acquire 133.3million shares of ADTs common stock at $9 a share. The Dallas Fed general business activity index fell to 7.10 in August, versus a prior reading of 12.70. Burger King is in talks to acquire Tim Hortons (NYSE: THI). Our history mirrors that of our nation. Those include an agreement signed to acquire Seragon Pharmaceuticals for $725 million in July and deals for diagnostics companies IQuum and Genia Technologies earlier this year, both of . From September 2003 until its acquisition by Roche Holdings in September 2014, Mr. Welch served as Chief Executive Officer and President of InterMune, Inc., a biotechnology company. Based on 1 documents 1. Sales of new US homes declined 2.4% to an annual rate of 412,000 in July. From a business standpoint, the AstraZeneca acquisition also makes great business sense. In May, the FDA gave the pill a "breakthrough therapy designation," allowing for a speedier review. Saturday, April 09, 2022. . The new company would be headquartered in Canada. Copy. Esbriet, however, faces competition. The disease is diagnosed in approximately 48,000 American patients annually. While Roche was making this move, rumors have again surfaced that Pfizer will make another run at acquiring AstraZeneca. Forgot password ? Shares of Burger King Worldwide BKW got a boost . closing share price on Friday of $53.80, and a 63% premium before takeover speculation surrounding the biotech started circulating this month. InterMune ( ITMN.DL) was health care's top performing stock, thanks to positive phase 3 trial results for its lead drug Esbriet in idiopathic pulmonary fibrosis. Integral to our story is our culture. A decision on nintedanib is expected in February. 87990cbe856818d5eddac44c7b1cdeb8, Copyright 2022 Dow Jones & Company, Inc. All Rights Reserved, InterMune Says Lung Disease Drug Succeeds in Late-Stage Study, Get 15% off AE promo code with text alerts, Kohl's coupon - 30% off sitewide for Rewards members, Layoffs Hit Tech as Amazon, Lyft Warn of Downturn, Home Buyers Are Moving Farther Away Than Ever Before. Developer of therapies in pulmonology and hepatology. . Startups with experimental lung drugs have attracted heavy deal interest not only because of the market's size but also because research is pointing the way to new and better treatments. InterMune has been charging about $40,000 a year per patient outside the U.S., according to However, economists were expecting a reading of 58.00. The company's former chief executive, W. Scott Harkonen, was convicted of wire fraud for issuing a news release that prosecutors said was an effort to promote off-label sales of that drug. IPF is a deadly lung-scarring disease which affects 50,000 70,000 people in the U.S. and 80,000 to 110,000 in Europe. Earlier this month, Roche said it would pay about $10 billion for the remaining shares it does not own in Chugai Pharmaceutical Co. Ltd. One company is seeking bolt-ons to enhance its portfolio and capabilities. Under the terms of the transaction, AbbVie will pay $261.25 per share comprised of a mix of cash and AbbVie equity. InterMune is a biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and orphan fibrotic diseases. All rights reserved. The scar tissue is known as fibrosis. Conversely, the Pfizer folks are again wondering if another major acquisition is imminent and whether they will again be threatened with the loss of their jobs. Save. Heres How to Get In. Idiopathic pulmonary fibrosis generally affects middle-aged males and older adults. (Reuters) - Roche Holding AG has agreed to buy U.S. biotech company InterMune Inc for $8.3 billion in cash, marking the latest multibillion-dollar deal in a consolidating pharmaceutical sector. InterMune's Positive trial results posted earlier this year lend hope for approval by the U.S. Food and Drug Administration as early as November. It has sold the drug under the name Esbriet in Canada since 2011 and received European authorization in 2012. InterMune General Information. Leju Holdings (NYSE: LEJU) was down, falling 4.73 percent to $17.54 after surging around 36.2% in the previous month. But over the past few years, Roches M&A strategy has focused on bolt-on acquisitions. ADVERTISEMENT Prosecutors say the defendants exfiltrated "approximately 10 gigabytes of confidential data from the Law Firm-1 email server" just days before. The acquisition represents a triumph for InterMune after a history of travails. By Christian Nordqvist Published Aug 25, 2014 at 1:58 AM GMT A Roche InterMune acquisition deal worth $8.3 billion has been agreed by the two companies. We're downgrading InterMune shares from Buy- to Hold-rated following Roche's proposed $8.3B acquisition offer that has been unanimously approved by the Boards of both companies. However, economists were expecting a sales rate of 430,000 in July. Roche has agreed to pay $8.3 billion in cash to acquire InterMune. BASEL, Switzerland Biotech company Roche will be acquiring research and pharmaceutical company InterMune for $8.3 billion, it announced over the weekend. Benzinga does not provide investment advice. August 24, 2014, 2:08 PM By Ben Hirschler and Caroline Copley LONDON/ZURICH (Reuters) - Roche Holding AG has agreed to buy U.S. biotech company InterMune Inc for $8.3 billion in cash, marking the. Overview. Roche has agreed to acquire InterMune at $74 per share in an all-cash transaction, a price 38 percent higher than the company's $53.80 closing price on Friday. However, economists were expecting a reading of 12.80. Roche has just announced the acquisition of the U.S. biotech company InterMune for $8.3 billion. Monday morning, the healthcare sector proved to be a source of strength for the market. Over the weekend, we witnessed the latest sizable deal in the biotech sector go down with global pharmaceutical giant Roche ( RHHBY 0.26%) announcing it would pay $8.3 billion in cash, or $74 per. On October 1, 2022, RWE AG (RWE), a leading renewable energy company, signed a purchase agreement with Con Edison, Inc. to acquire all shares in Con Edison Clean Energy Businesses, Inc., a leading operator and developer of renewable energy plants in the United States, for a purchase price based on an enterprise value of $6.8billion. As part of the all-cash Roche to acquire InterMune for $8.3bn - Pharma Advancement The transaction values Pharmacyclics at approximately $21 billion and was approved by the Boards of Directors of both companies. Follow. Roches move is just the latest of a series of similar acquisitions over the past few months as it has spent about $2.5 billion for the purchases of Seragon Pharmaceuticals, Santaris, and Genia. 2014 has been one of the busiest years for pharmaceutical deal makers. Pricing. Goldman Sachs calculated and analyzed the acquisition premia paid in mergers and acquisitions transactions in the biotechnology industry involving publicly traded targets announced since May 2010 where the consideration paid implied an enterprise . Roche will pay $74 per share for InterMune, which represents a 38% premium to the California-based company's Friday closing price. Even before speculation about a takeover, InterMune's stock had roughly tripled in value in the first half of 2014 following better-than-expected results in the clinical testing of Esbriet. This acquisition includes patent rights that InterMune had been licensing from Marnac and KDL as well as other international IP rights relating to pirfenidone that were not part of the prior existing license agreement. The press release goes on to say that Roche plans a smooth transition of InterMune employees and operations into the Roche organization. InterMune Agreement means the Product Acquisition Agreement by and between Seller and InterMune, dated November 28, 2005. Illumina Inc. After the equity investment and tender offer close, State Farm will own approximately 15% of ADT. All Rights Reserved. Most patients survive from 2 to 5 years after diagnosis. The Swiss drugmaker. Under terms of the acquisition agreements, InterMune has made total upfront payments of $13.5 million. said Sunday it would pay $8.3 billion for a California biotech firm that has yet to turn a profit on a new drug to treat a deadly lung diseasethe latest gamble by a pharmaceutical giant to buy its way into a lucrative corner of the industry. A potential deal would create the third-largest fast food chain in the world. The InterMune acquisition also departs from the much smaller-scale deals Roche has focused on recently to build out its oncology and diagnostics businesses. Roche Holding AG signed a definitive agreement to acquire InterMune, Inc. for $8.1 billion in cash from Sofinnova Investment, Inc. and others on August 22, 2014. Shares popped nearly 15% as. Pirfenidone is marketed as Esbriet in the EU and Canada. Will allow Roche to broaden and strengthen its respiratory portfolio globally Recent large deals in the sector include AbbVie Inc's $54bn acquisition of Shire Plc and Medtronic Inc's acquisition of Covidien Plc for $43bn. In July, Roche and Seragon Pharmaceuticals agreed on a $1.725 billion takeover. Market Business News - The latest business news. While still under review by U.S. regulatory authorities, Roches acquisition signals its belief that pirfenidone will also gain U.S. approval. Roche says InterMune has other research programs exploring new pathways and targets that may ultimately provide better treatment options for patients with fibrotic diseases. ") On August 27, Zacks named the company as one of two "attractive takeover targets." (See "Biotech Stock Roundup: Biotechs Surge on InterMune Acquisition Deal, Focus on More M&As.") which depends heavily on an aging asthma drug called Advair for sales, is launching two new therapies for COPD. 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