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News Breaks
August 24, 2014
13:41 EDTRHHBY, ITMNRoche to acquire InterMune for $74.00 per share
Roche (RHHBY) and InterMune (ITMN) announced they have entered into a definitive merger agreement for Roche to fully acquire InterMune at a price of $74.00 per share in an all-cash transaction. This corresponds to a total transaction value of $8.3B on a fully diluted basis. This offer represents a premium of 38% to InterMune's closing price on August 22 and a premium of 63% to InterMune's unaffected closing price on August 12. The merger agreement has been approved by the boards of InterMune and Roche. Under the terms of the merger agreement, Roche will commence a tender offer no later than August 29 to acquire all outstanding shares of InterMune common stock, and InterMune will file a recommendation statement containing the unanimous recommendation of the InterMune board that InterMune's shareholders tender their shares to Roche. The transaction is expected to be neutral to core earnings per share in 2015 and accretive from 2016 onwards. The acquisition of InterMune, a Brisbane, California based biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and fibrotic diseases, will allow Roche to broaden and strengthen its respiratory portfolio globally. Roche plans a smooth transition of InterMune employees and operations into the Roche organization, ensuring readiness for an expected launch of pirfenidone in the US in 2014. The closing of the transaction is expected to take place in 2014.
News For ITMN;RHHBY From The Last 14 Days
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November 27, 2015
09:25 EDTRHHBYRoche management to meet with JPMorgan
Meetings to be held in Jersey City/New York on December 1 and in Connectciut/New York on December 2 hosted by JPMorgan.
November 22, 2015
15:14 EDTRHHBYExelixis confirms Phase 3 data on Cotellic with Zelboraf for melanoma
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15:09 EDTRHHBYGenentech reports data on Cotellic with Zelboraf for treatment of melanoma
Genentech, a member of the Roche Group, announced data from the pivotal coBRIM study, showing that Cotellic, or cobimetinib, in combination with Zelboraf, or vemurafenib, helped people with BRAF V600E and V600K mutation-positive unresectable or metastatic melanoma live "significantly longer" than with Zelboraf alone, according to the company. Cotellic plus Zelboraf reduced the risk of death by 30% compared to Zelboraf alone and helped people live a median of nearly two years, with 74.5% of BRAF V600 patients alive at one year and 48.3% alive at two years. Ongoing study monitoring did not identify any new safety signals. The company noted that an approval decision on Cotellic from the European Commission is expected before year end.
November 18, 2015
08:28 EDTRHHBYLeerink to hold a bus tour
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08:11 EDTRHHBYIMS Health forecasts global drug spending to increase 30% by 2020 to $1.4T
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November 17, 2015
07:34 EDTRHHBYOphthotech to hold a conference call
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06:08 EDTRHHBYRoche subsidiary to participate in Ophthotech and Novartis agreement
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November 13, 2015
10:18 EDTRHHBYRoche receives FDA approval for cobas EGFR mutation test
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09:34 EDTRHHBYFDA approves Roche's cobas EGFR Mutation Test
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