Boston, MA 08/25/2014 (wallstreetpr) – A biotechnology company based in Brisbane, California, focused on intensive research, development and implementation of commercially sound innovation therapies in fibrotic and pulmonology diseases, InterMune Inc (NASDAQ:ITMN), is up for grabs by Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY). The latter has signed the pact pertaining to a merger agreement with the former. The definitive agreement makes clear that ITMN shall be purchased at a net aggregate price per share of $74.00; the transaction is deemed to be an all-cash one!
ITMN – A Worthwhile Acquisition For Roche
Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) needs to commence an apt tender with an offer to buy ITMN within the day’s end on August 29, 2014. The offer should be inclined at paying for all outstanding shares. A unanimous recommendation statement must also be forwarded by InterMune Inc (NASDAQ:ITMN) authorities to Roche. The entire transaction is expected to be aptly neutral to the net per-share earnings in FY 2015. However, it shall be accretive FY 2016 onwards.
The worthwhile acquisition of ITMN would apparently put Roche in a better front; its global portfolio will be boosted and thoroughly broadened. One of the top notch products ITMN brags about is Pirfenidone, that treats Idiopathic Pulmonary Fibrosis in Canada and the EU. It is used in the US under certain regulatory purview.
Pirfenidone Shall Be As An Asset For Roche
With the purchase, Roche will get the exquisite drug Pirfenidone, and would help it emerge as an important player that caters to finding apt solutions for the progressive, irreversible and at times fatal consequential disease cause by deteriorating lung functionalities owing to scarring in the lungs.
The CEO of Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY), Severin Schwan extended his hearty pleasure since his company has reached an agreement with InterMune Inc (NASDAQ:ITMN). He added that this strategic merger acquisition would benefit Roche’s tryst with pulmonary therapy. This would add to the company’s strengths pertaining to substantial measures to combat the devastating disease called IPF, and hence would evolve as an offer of significant worth to ITMN’s shareholders as well!
Advantage-Roche
Roche exercised prudence and reinstated that InterMune Inc (NASDAQ:ITMN) employees and its operations would be seeping into Roche’s purview and organization pretty sooner! Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) would also inherit a profound arsenal of improved treatment and research explored by ITMN till the date of handover!
