Roche Buys InterMune for $8.3 Billion

Roche has agreed to buy BayBio member company InterMune for $8.3 billion in cash.  The acquisition, which has been recommended by the boards of both companies, is the largest by Roche since 2009, when it bought out the remaining stake it did not already own in Genentech for $47 billion.

CEO Severin Schwan said the deal would allow Roche to broaden and strengthen its respiratory portfolio, adding that he believed there was a good strategic and cultural fit between the two companies.  By adding InterMune to its portfolio, Roche will gain a promising new drug, pifendidone, which is currently approved for so-called idiopathic pulmonary fibrosis in Europe and Canada.  It is currently undergoing review in the United States.