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InterMune's Roche Deal Sends Peer Group Up

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InterMune's (NASDAQ: ITMN) agreement to be acquired by Roche (OTC: RHHBY) for $74 a share sent similar drug development companies up in early trading Monday.

InterMune gained 35 percent to $73.08.

  • Infinity Pharmaceuticals (NASDAQ: INFI) rose more than four percent to $11.42
  • Gilead Sciences (NASDAQ: GILD) picked up three percent to $107.10
  • Synta Pharmaceuticals (NASDAQ: SNTA) gained nearly three percent to $4.11
  • Rigel Pharmaceuticals (NASDAQ: RIGL) gained two percent to $2.64.

InterMune, which makes a single product for treatment of pulmonary fibrosis approved only in Europe and Canada, had been rumored for sale as early as March.

Talk surfaced again earlier this month, with the mention of potential acquirers including Sanofi, GlaxoSmithKline and Actelion.

Roche finally inked an $8.3 billion deal Sunday.

Posted-In: News Rumors M&A Intraday Update

 

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