intermune acquisition

2014 has been one of the busiest years for pharmaceutical deal makers. milestone payments), takes Roche's cumulative announced acquisition spend so far in 2014, to USD10.8bn, which will be financed by a combination of cash, commercial paper and bond issuance. 2014 Benzinga.com. InterMune ( ITMN.DL) was health care's top performing stock, thanks to positive phase 3 trial results for its lead drug Esbriet in idiopathic pulmonary fibrosis. IPF is a deadly lung-scarring disease which affects 50,000 70,000 people in the U.S. and 80,000 to 110,000 in Europe. I cover news on drugs and R&D in the pharma industry. InterMune has a drug, pirfenidone, that treats deadly scarring of the lungs, also known as idiopathic pulmonary fibrosis. We believe the $74 . The acquisition adds to AbbVie's already comprehensive pipeline and strong growth prospects. Rival drugmaker, Boerhinger Ingelheim has an IPF drug candidate called nintedanib, which the FDA is currently reviewing. It has also been developing a compoundcalled lebrikizumabfor severe asthma. Overview in the case of Philip Paul Vs Intermune Inc Etal number CIV530304 in sanmateo, ca Markets Open Higher; Burger King In Talks To Buy Tim Hortons, Oil Prices Fall; NetApp Upgraded At Needham. ADVERTISEMENT Prosecutors say the defendants exfiltrated "approximately 10 gigabytes of confidential data from the Law Firm-1 email server" just days before. Consequently, the brain and other organs in the body do not get enough oxygen. Idiopathic pulmonary fibrosis generally affects middle-aged males and older adults. The drug also could potentially treat other diseases marked by tissue scarring in the liver and kidney. InterMune's BASEL, Switzerland, Aug. 24, 2014 /PRNewswire/ -- Roche and InterMune, Inc. today announced they have entered into a definitive merger agreement for Roche to fully acquire InterMune at a. This offer represents a premium of 38% to InterMunes closing price on August22, 2014, and a premium of 63% to InterMunes unaffected closing price on August12, 2014. InterMune ITMN shares shot up 35.49 percent to $72.89 after Roche RHHBY announced its plans to acquire InterMune for $74.00 per share in cash. Analysts wonder whether the Roche InterMune acquisition is a wise move. Some analysts estimate Esbriet could have more than $1 billion in yearly sales world-wide. In InterMune, Roche found a suitable target. Roche Holding has agreed to buy U.S. biotech company InterMune for $8.3 billion in cash, marking the latest multibillion-dollar deal in a consolidating pharmaceutical sector. Attorney Advertising. InterMune Agreement means the Product Acquisition Agreement by and between Seller and InterMune, dated November 28, 2005. The drug has been granted approval in both Canada and Europe and has sold. Roche to Acquire InterMune for $8.3B August 25, 2014 Roche plans to acquire InterMune for $8.3 billion cash, in a deal that expands the buyer's respiratory product portfolio with the seller's. 2022 In the acquisition, Roche will be. A Roche InterMune acquisition deal worth $8.3 billion has been agreed by the two companies. On September 6, 2022, Texas Capital Bancshares, Inc. (Texas Capital) announced it has entered into a definitive agreement to sell BankDirect Capital Finance, LLC (BankDirect), its insurance premium finance subsidiary, to AFCO Credit Corporation (AFCO), an indirect whollyowned subsidiary of Truist Financial Corp. (Truist), in an allcash transaction for a purchase price of approximately $3.4billion. Heres How to Get In. European shares were higher today. Under the terms of the transaction, Pfizer will acquire all the outstanding shares of GBT for $68.50 per share in cash, for a total enterprise value of approximately $5.4billion, including debt and net of cash acquired. Leju Holdings (NYSE: LEJU) was down, falling 4.73 percent to $17.54 after surging around 36.2% in the previous month. LONDON Pricing. It has sold the drug under the name Esbriet in Canada since 2011 and received European authorization in 2012. Last year, AstraZeneca PLC agreed to pay up to $1.15 billion for Pearl Therapeutics and its drug for a lung condition called chronic obstructive pulmonary disease, or COPD. Earnout Amount has the meaning set forth in Section 1.9(a).. Earn-Out Amount shall have the meaning set forth in Section 4.3(a).. Earnout Period has the meaning set forth in Section 2.5(a)(iii).. Earnout Payment has the meaning set forth in Section 2.3(b).. Earn-Out Payment has the meaning set forth in Section 2.3(a).. Earn-Out Period has the meaning set . Overview. Roche says InterMune has other research programs exploring new pathways and targets that may ultimately provide better treatment options for patients with fibrotic diseases. The Swiss drugmaker. We look forward to welcoming InterMune employees into the Roche Group and to making a difference for patients with idiopathic pulmonary fibrosis, a devastating disease," he said. A potential deal would create the third-largest fast food chain in the world. Description. Sample 1. BASEL, Switzerland Biotech company Roche will be acquiring research and pharmaceutical company InterMune for $8.3 billion, it announced over the weekend. August 24, 2014, 2:08 PM By Ben Hirschler and Caroline Copley LONDON/ZURICH (Reuters) - Roche Holding AG has agreed to buy U.S. biotech company InterMune Inc for $8.3 billion in cash, marking the. Swiss drugmaker Roche has signed a definitive merger agreement to acquire InterMune for around $8.3bn. Saturday, April 09, 2022. . Meanwhile, the German DAX rose 1.83 percent and the French CAC 40 surged 2.10 percent. InterMune has been charging about $40,000 a year per patient outside the U.S., according to Greif (NYSE: GEF) shares tumbled 5.73 percent to $47.42 after the company cut its FY14 earnings forecast. Our history mirrors that of our nation. On October 1, 2022, RWE AG (RWE), a leading renewable energy company, signed a purchase agreement with Con Edison, Inc. to acquire all shares in Con Edison Clean Energy Businesses, Inc., a leading operator and developer of renewable energy plants in the United States, for a purchase price based on an enterprise value of $6.8billion. The driver for Roche was to gain access to InterMunes drug, pirfenidone (trade name, Esbriet), which is already approved in Canada and Europe for idiopathic pulmonary fibrosis (IPF). InterMune is a Brisbane, California based biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and fibrotic diseases. Forgot password ? "Our offer provides significant value to InterMune's shareholders and this acquisition will complement Roche's strengths in pulmonary therapy. Define InterMune Agreement. Integral to our story is our culture. The Swiss multinational giant is willing to pay a high price for the Californian company that has a drug for idiopathic pulmonary fibrosis, which has not yet turned a profit. The Brisbane, Calif.-based company has one product, pirfenidone, a treatment for idiopathic pulmonary fibrosis (IPF), a progressive and ultimately fatal lung disease. InterMune, Inc. Subsidiary Company. Roche gains access to InterMune's lead drug Esbriet (pirfenidone), which treats idiopathic pulmonary fibrosis (IPF), a rare but fatal disease characterized by progressive loss of lung function. Roche has agreed to acquire InterMune at $74 per share in an all-cash transaction, a price 38 percent higher than the company's $53.80 closing price on Friday. While still under review by U.S. regulatory authorities, Roches acquisition signals its belief that pirfenidone will also gain U.S. approval. Pirfenidone is marketed as Esbriet in the EU and Canada. View Corporate Tree. As part of the all-cash Roche to acquire InterMune for $8.3bn - Pharma Advancement The disease is diagnosed in approximately 48,000 American patients annually. the company's chief executive. Shares of Qihoo 360 Technology Co (NYSE: QIHU) were down 6.93 percent to $94.70 after the company reported Q2 results. Cravath is representing GBT in connection with the transaction. Conversely, the Pfizer folks are again wondering if another major acquisition is imminent and whether they will again be threatened with the loss of their jobs. Roche will fully acquire InterMune for US$ 74.00 per share in an all-cash transaction corresponding to a total transaction value of US$ 8.3 billion. Basic Info. The acquisition, which has been recommended by the boards of both companies, is the largest by Roche since 2009, when it . Remember . InterMune is "focused on the research, development and. | Advanced search Log in. . The acquisition of InterMune, a Brisbane, California based biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and fibrotic. Resources. In July, Roche and Seragon Pharmaceuticals agreed on a $1.725 billion takeover. Roche has just announced the acquisition of the U.S. biotech company InterMune for $8.3 billion. The acquisition is a symbol of a much bigger trend..ITMN. closing share price on Friday of $53.80, and a 63% premium before takeover speculation surrounding the biotech started circulating this month. Goldman Sachs calculated and analyzed the acquisition premia paid in mergers and acquisitions transactions in the biotechnology industry involving publicly traded targets announced since May 2010 where the consideration paid implied an enterprise . Celebrating 200 years of partnership. Midway through trading Monday, the Dow traded up 0.64 percent to 17,110.26 while the NASDAQ surged 0.63 percent to 4,566.93. Mr. Welch also served as Chairman of InterMune from May 2008 to September 2014. Save. Opinions expressed by Forbes Contributors are their own. In connection with State Farms equity investment, ADT will be commencing a selftender offer for up to 133.3million shares of its outstanding common stock and Class B common stock at $9 per share, to be funded by the proceeds from the State Farm equity investment. Our offer provides significant value to InterMunes shareholders and this acquisition will complement Roches strengths in pulmonary therapy., We look forward to welcoming InterMune employees into the Roche Group and to making a difference for patients with idiopathic pulmonary fibrosis, a devastating disease.. We look forward to welcoming InterMune employees into the Roche Group and to making a difference for patients with idiopathic pulmonary fibrosis, a devastating disease.. The Dallas Fed general business activity index fell to 7.10 in August, versus a prior reading of 12.70. It has sold the drug under the name Esbriet in Canada since 2011 and received European authorization in 2012. The acquisition represents a triumph for InterMune after a history of travails. Schwan also offered Intermune the highest praise an acquirer can: he . . Swiss pharmaceuticals group Roche revealed this week that it has agreed to acquire California-based biotechnology company InterMune Inc. in a deal worth $8.3 billion. Zippia gives an in-depth look into the details of Intermune, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Intermune. Will allow Roche to broaden and strengthen its respiratory portfolio globally Our offer provides significant value to InterMunes shareholders and this acquisition will complement Roches strengths in pulmonary therapy. The medication has been approved for idiopathic pulmonary fibrosis (IPF) in the European Union and Canada, where it is marketed as Esbriet. Additionally, State Farm will commit $300million to an opportunity fund to support product and technology innovation, customer growth and marketing, and Google has separately agreed to commit an incremental $150million, raising its total success fund commitment to $300million. The other seeks to make huge take-overs and then gain synergies by slashing costs, closing sites, and eliminating thousands of jobs. The S&P also rose, gaining 0.64 percent to 2,001.04. The scar tissue is known as fibrosis. Cravath is representing RWE, alongside Hengeler Mueller, in connection with the transaction. Roches move is just the latest of a series of similar acquisitions over the past few months as it has spent about $2.5 billion for the purchases of Seragon Pharmaceuticals, Santaris, and Genia. Cravath represented InterMune in connection with this transaction, which has been approved by the boards of InterMune and Roche and is expected to close in 2014. By Christian Nordqvist Published Aug 25, 2014 at 1:58 AM GMT A Roche InterMune acquisition deal worth $8.3 billion has been agreed by the two companies. Although Esbriet hasn't been approved in the U.S., it is as close to a sure bet as Roche could ask for, given the drug's approval in Europe and Canada. Startups with experimental lung drugs have attracted heavy deal interest not only because of the market's size but also because research is pointing the way to new and better treatments. Roche, which focuses on cancer, autoimmune diseases and diagnostic tools, hasn't been much of a player in respiratory treatment. On August8, 2022, Global Blood Therapeutics, Inc. (GBT), a biopharmaceutical company dedicated to the discovery, development and delivery of lifechanging treatments that provide hope to underserved patient communities, starting with sickle cell disease, and Pfizer Inc. (Pfizer) announced that the companies have entered into a definitive agreement under which Pfizer will acquire GBT. Swiss pharmaceutical company Roche has said it will acquire California-based biotechnology firm InterMune for $8.3 billion, in a deal that allows Roche to strengthen its respiratory therapy portfolio. Based on 1 documents 1. This transaction represents the divestiture of the entire business unit including the equity interests of BankDirect and the associated loan balances held by Texas Capital Bank and no parent funding, deposits or capital will be transferred. Create Alert. The Californian company has just one product in a therapeutic area that will become much more competitive. InterMune General Information. Browse. Datamonitors' InterMune, Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by InterMune, Inc. since January 2007. High Related Markets. Its last big deal was in 2009, when it paid $46.8 billion for the stake in biotech Genentech that it didn't already own. Earlier this month, Roche said it would pay about $10 billion for the remaining shares it does not own in Chugai Pharmaceutical Co. Ltd. The pricing reflects the value the medicine brings, Mr. Welch said. Roche will pay $74 per share for InterMune, which represents a 38% premium to the California-based company's Friday closing price. A decision on nintedanib is expected in February. The transaction values Pharmacyclics at approximately $21 billion and was approved by the Boards of Directors of both companies. It is a serious incurable disease. The company's former chief executive, W. Scott Harkonen, was convicted of wire fraud for issuing a news release that prosecutors said was an effort to promote off-label sales of that drug. It is pretty clear from these statements and its behaviors that Roche looks at these recent acquisitions as a growth strategy focused on building new expertise into the organization and not necessarily obtaining a major asset like pirfenidone and then dismantling the acquired company. This is Roche Holding's 10th transaction in the United States. Over the weekend, we witnessed the latest sizable deal in the biotech sector go down with global pharmaceutical giant Roche ( RHHBY 0.26%) announcing it would pay $8.3 billion in cash, or $74 per. Opinion: Your Duty as a Voter Is to Take the Election Seriously, Opinion: Don Bolduc May Pull Off an Upset in New Hampshire, Opinion: What to Expect in the 2022 Midterms, Opinion: Elon Musk Makes an Offer You Can Refuse, Putinisms: Vladimir Putins Top Six One Liners, Ukrainians Sift Through Debris; Civilians Urged to Leave Eastern Regions, WSJ Opinion: Mar-a-Lago and the Swamp's Obsession With Donald Trump, Opinion Journal: The Trump-Modi Friendship, Mortgages, Cars and Credit Cards: How Interest-Rate Hikes Are Hitting Americans' Wallets. The Chicago Fed National Activity Index rose to 0.39 in July, versus economists expectations for a reading of 0.20. But over the past few years, Roches M&A strategy has focused on bolt-on acquisitions. In 2019, we celebrated our bicentennial. Shares of Burger King Worldwide BKW got a boost . The Cravath team included partners Faiza J. Saeed and Ting S. Chen and associates Amanda R. Fenster, Jennifer L. Tanaka and Jennifer Uren on M&A matters; partner Michael L. Schler and associate Jay S. Gill on tax matters; partner Eric W. Hilfers and associate Julia L. Onorato on executive compensation and benefits matters; partner Christine A. Varney and associate Margaret Segall DAmico on antitrust matters; and partner David J. Kappos and associate Benjamin D. Landry on intellectual property matters. On September 6, 2022, ADT Inc. (ADT) and State Farm announced that State Farm has agreed to make a $1.2billion equity investment in ADT to acquire 133.3million shares of ADTs common stock at $9 a share. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Cravath is representing ADT in connection with the transactions. Monday morning, the healthcare sector proved to be a source of strength for the market. Roche and InterMune, Inc. announced that Roche's wholly owned subsidiary Klee Acquisition Corporation has accepted for payment all shares validly tendered pursuant to its tender offer for all outstanding shares of common stock of InterMune, Inc. at USD 74.00 per share in cash B.A., 1987, University of California, Berkeley, J.D., 1998, University of Chicago Law School, J.D., 1986, Georgetown University Law Center, B.A., 1977, State University of New York, Albany, J.D., 1990, University of California, Berkeley, School of Law, B.S., 1983, University of California, Davis, InterMunes $8.9Billion Acquisition by Roche, RWE AGs $6.8Billion Acquisition of Con Edison Clean Energy Businesses, ADTs $1.2Billion Equity Investment from State Farm, Texas Capital Banks $3.4Billion Sale of BankDirect Capital Finance to Truist, Global Blood Therapeutics $5.4Billion Acquisition by Pfizer. 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