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Insmed Incorporated Message Board

  • terry_vrng terry_vrng Aug 29, 2014 12:56 AM Flag

    Read this completely,,and understand what's coming

    Read this completely,,and understand what's coming
    Amid this summer's M&A fever, Roche's agreement Monday to buy the San Francisco biotech InterMune ITMN +0.04% InterMune Inc. U.S.: Nasdaq $73.21 +0.03 +0.04% Aug. 28, 2014 4:00 pm Volume (Delayed 15m) : 6.58M AFTER HOURS $73.20 -0.01 -0.02% Aug. 28, 2014 4:28 pm Volume (Delayed 15m) : 31,758 P/E Ratio N/A Market Cap $7.93 Billion Dividend Yield N/A Rev. per Employee $315,643 73.6073.4073.2073.0010a11a12p1p2p3p4p 08/28/14 An $8.3 Billion Rebuke to the ... 08/24/14 Roche to Acquire InterMune for... More quote details and news » deserves special notice. The tie-up is an $8.3 billion guided missile into the fortified bunker that is the Food and Drug Administration.

    InterMune has never turned a profit in 16 years of existence and other than its clinical expertise the company holds a single asset: an idea for treating a lethal lung disorder called idiopathic pulmonary fibrosis with no known cause, cure or approved therapy—at least in the U.S. An InterMune drug called pirfenidone that slows the progression of irreversible lung scarring is on the market in Europe, Japan, Canada and even China.

    But the FDA refused to approve pirfenidone in 2010, despite the 40,000 Americans who are killed annually by lung fibrosis and a positive recommendation from its outside scientific advisory committee. The agency brass claimed the evidence was statistically unsatisfactory, when one clinical trial was inconclusive but another showed strong benefits such as improved lung function.

    The results of the third trial the FDA ordered were reported earlier this year and confirmed that pirfenidone is even more of a treatment advance than it seemed in 2010, and may prolong life. The agency is expected, finally, to approve the medicine in November.

    Roche is paying a 38% premium over Friday's closing share price, and 63% over trading before the news of InterMune's corporate suitors broke a few weeks

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