InterMune gains on rumored bids

InterMune Inc. (NASDAQ:ITMN) rose $6.57 (14%) to $52.06 on Wednesday after media reports surfaced that at least four companies made bids to acquire the company and that InterMune has hired Goldman Sachs and Centerview Partners to evaluate the bids. InterMune declined to comment along with the rumored bidders: Actelion Ltd. (SIX:ATLN), GlaxoSmithKline plc (LSE:GSK; NYSE:GSK), Sanofi (Euronext:SAN; NYSE:SNY) and the Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY).

InterMune markets Esbriet pirfenidone in Canada and Europe to treat idiopathic pulmonary fibrosis (IPF). A resubmitted NDA for the product is under FDA review, with a Nov. 23 PDUFA date. InterMune recorded 2Q14 Esbriet revenues of $35.7 million. ...