InterMune (ITMN) Updates Expense Forecasts and Development Plans
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InterMune, Inc. (Nasdaq: ITMN) has completed a review of its research and development programs and infrastructure requirements. InterMune will implement a number of operational and infrastructure changes that, when fully implemented by 2008, are expected to reduce annual operating expenses by approximately $40 to $50 million.
The expense savings result from: 1) a reduction in staffing levels by 50%, or 116 full-time and contract positions affecting all departments; 2) a reduction of development, clinical and regulatory costs due to the termination of the INSPIRE trial; and 3) a reduction of SG&A expenses related to Actimmune.
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