InterMune falls as Esbriet revenues miss Street

Shares of InterMune Inc. (NASDAQ:ITMN) fell $1.81 (15%) to $9.90 on Monday after idiopathic pulmonary fibrosis (IPF) drug Esbriet pirfenidone recorded 2Q12 revenue of $5.5 million, missing the Street's estimate of $7.8 million and up slightly from $4.9 million in 1Q12. On Monday, InterMune introduced full-year revenue guidance of $20-$25 million for Esbriet. The Street was expecting $36 million.

InterMune attributed the results partly to a slowdown in adding new Esbriet patients in 1Q12 after Germany's Institute for Quality and Efficiency in Health Care (IQWiG) issued a negative benefit assessment of Esbriet in December. In March, the country's Federal Joint Committee (G-BA) issued a more favorable final assessment. ...