InterMune (ITMN) Could Draw Bids as IPF Treatment Esbriet Gains Strength
Tweet
Share
E-mailGet Alerts ITMN Hot Sheet
Join SI Premium – FREE
InterMune Inc. (Nasdaq: ITMN) may be back in play for a buyout amid positive indications behind its Esbriet medication, a treatment for idiopathic pulmonary fibrosis, or IPF.
According to Bloomberg-compiled data, Esbriet may double revs in Europe and Canada this year while potentially being accepted by the FDA in 2014. The FDA last rejected Esbriet back in 2010, but estimates have the medication as a potential treatment for 132,000 patents in the U.S.
While Esbriet is still in phase 3 testing, interested parties in the $742 million biotech might include such names as Glaxo (NYSE: GSK), Novartis (NYSE: NVS), and Gilead Sciences (Nasdaq: GILD).
One analyst from William Blair sees FDA approval at 80 percent. Phase 3 for Esbriet isn't expected to be complete until the second-quarter of 2014. No other treatments for IPF have been approved by the FDA as of yet, making Esbriet the lead candidate.
InterMune CEO Dan Welch would probably be okay with a deal; he was leading Triangle Pharmaceuticals when Gilead acquired the company in 2002. The acquisition gave Gilead an HIV drug which was already under FDA review, helping shape the company into one of the world's leading drugmakers in the segment.
Shares are up 1.9 percent Wednesday.
According to Bloomberg-compiled data, Esbriet may double revs in Europe and Canada this year while potentially being accepted by the FDA in 2014. The FDA last rejected Esbriet back in 2010, but estimates have the medication as a potential treatment for 132,000 patents in the U.S.
While Esbriet is still in phase 3 testing, interested parties in the $742 million biotech might include such names as Glaxo (NYSE: GSK), Novartis (NYSE: NVS), and Gilead Sciences (Nasdaq: GILD).
One analyst from William Blair sees FDA approval at 80 percent. Phase 3 for Esbriet isn't expected to be complete until the second-quarter of 2014. No other treatments for IPF have been approved by the FDA as of yet, making Esbriet the lead candidate.
InterMune CEO Dan Welch would probably be okay with a deal; he was leading Triangle Pharmaceuticals when Gilead acquired the company in 2002. The acquisition gave Gilead an HIV drug which was already under FDA review, helping shape the company into one of the world's leading drugmakers in the segment.
Shares are up 1.9 percent Wednesday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- U.S. sending dozens more refueling planes to Israel ahead of possible escalation - Axios
- Xencor to present XmAb819 renal cancer data at ESMO 2026
- SL Science presents glioblastoma cell therapy data at WCP 2026
Create E-mail Alert Related Categories
FDA, Insiders' Blog, RumorsRelated Entities
William BlairSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
