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InterMune rises on buyout

The stock of the maker of Esbriet vaulted 35.4% to 72.85 Mon., a day after the biotech agreed to be bought by Roche for $8.3 bil. The price comes to $74 a share, 38% above InterMune's (ITMN) Fri. closing price and 63% above its Aug. 12 closing price. Analysts say the price seemed high, implying that Roche expects Esbriet, which treats idiopathic pulmonary fibrosis, to be a hit with at least $1 bil in peak annual sales. FDA approval of the drug is expected by Nov.