Roche adds to fibrosis portfolio with $390M Promedior acquisition

Roche is adding a Phase III-ready idiopathic pulmonary fibrosis candidate to complement its IPF blockbuster Esbriet pirfenidone via the acquisition of Promedior for $390 million in upfront cash and up to $1 billion in milestones. The deal comes after Bristol-Myers passed on an option to acquire the biotech last year.

The takeout gives Roche (SIX:ROG; OTCQB:RHHBY) PRM-151, which in May showed strong Phase II data on multiple functional IPF endpoints on top of standard of care, which includes Roche's Esbriet...