Roche to acquire US biotech company InterMuneCraig Dalton (Author) Published Date : Aug 25, 2014 12:10 IST
U.S biotech firm InterMune will be purchased by Roche Holding for $8.3 billion and the transaction will be made by cash as one of the largest cancer drug makers will be boosted after the deal to blossom its business producing rare diseases drugs.
However Roche have struggled on their heart disease, schizophrenia and diabetes drugs production as the firm made the experiment of producing non cancer drugs which led down the company after low business.
But the firm holds the market of Pulmozyme which is a drug of cystic fibrosis along with the drug for severe asthma named Xolair in the US markets which is highly popular along with their other drugs in clinical improvement with lebrikizumab for severe asthma.
It will be a promising deal as InterMune is likely to launch its new drug for a progressive and ultimately fatal scarring named pirfenidone which is already approved in the IPF in Europe and Canada however it is yet to get the green signal from the US regulatory as it is still under the review.
According to Roche the firm will be paying $74 per share to InterMune along with the premium of 38 percent with the closing share price on August 22.
While the takeover would be the largest one for Roche since 2009 and both the firm s board has approved the deal.
The Switzerland based company Roche s share price gained 0.5 percent at the stock market to 267.2 Swiss currencies at the early morning trading on Monday.
According to Roche the transaction is expected to be a neutral one for its earnings per share in 2015 however it will increase in terms of gaining profits from 2016.
Roche to acquire US biotech company InterMune