InterMune licenses Amgen's Infergen

ITMN received exclusive development and commercialization rights to AMGN's Infergen interferon alfacon-1, which is marketed to treat chronic hepatitis C virus (HCV) infection, and a pegylated version in early-stage development. AMGN will receive a $21 million upfront payment, near-term milestone payments of up to $8 million and additional milestone payments for the pegylated product. AMGN also is eligible for royalties on the two products. AMGN posted $15 million in Infergen sales in 2000, although the product has not been detailed since 1998, when its sales peaked at $25 million.

Also, ITMN raised its 2001 sales estimate for Actimmune interferon gamma-1b to $31 million from $26 million. However, ITMN increased its expected net loss estimate for the year to $50-$55 million from $36 million. Actimmune is marketed to treat chronic granulomatous disease and osteopetrosis, and is in Phase III testing to treat idiopathic pulmonary fibrosis. ...