Boston, MA 05/23/2014 (wallstreetpr) – InterMune Inc (NASDAQ:ITMN) became one stock that has so far caught attention, especially of Jim Cramer, as the pharmaceutical sector continues to plummet.
Esbriet A Leading Drug
InterMune Inc (NASDAQ:ITMN) is an Orphan drug developer and aims to treat rare diseases. The current leading drug of the company is Esbriet, which is developed to address progressive, irreversible and fatal lung diseases. Cramer said during his show “Mad Money” that Esbriet has already received an approval in the European Union and Canada, but is yet to get an approval in the United States. Cramer feels that the approval from the FDA is likely as the drug has returned extremely positive results and has been successful in increasing the survival time in the patients.
InterMune Inc (NASDAQ:ITMN)’s CEO, Daniel Welch also spoke on the show and appeared positive that the drug will get the required FDA approval, and the company would then be able to introduce the product as early as first quarter of the next year. Welch highlighted that the drug might be brought to use for other diseases as well. He added that the drug is already seen as a possibility to treat another disease name Scheroderms, however, the relevant studies are to be carried out first.
Cramers’ Advise For Research
The shares of the company were trading high by 1.62% on Thursday, which, according to Cramer is driven by the optimism surrounding Esbriet that it will actually do well as he notes that the other biotechs are struggling their way on to the trading sessions. Conclusively, though Cramer is interested in the stocks like this and other Orphan Drug developers, but said that InterMune Inc (NASDAQ:ITMN) has already been up by nearly 168% over the last one year. Thus, he suggests that investors should do their own research before taking in a position, and once they are convinced about a company then they can always buy it on lows.
