12:00 AM
Jun 18, 2001
 |  BioCentury  |  Strategy

The fully loaded cost of in-licensing

InterMune Inc.'s in-licensing strategy has afforded the company top line growth with the promise of near-term profits. But in-licensing comes with a cost, as building and feeding a sales force is not cheap. Thus ITMN's announcement on Friday that it will in-license U.S. and Canadian marketing rights to Amgen Inc.'s Infergen interferon alfacon-1, which is marketed to treat chronic hepatitis C virus (HCV) infection, will increase ITMN's net loss for this year to $50-$55 million from its previously estimated loss of $36 million.

Nevertheless, ITMN is sticking by its February guidance that it will be profitable by the end of 2003.

The Infergen deal puts a third in-licensed product in ITMN's bag. The company hopes to get the product back at least to the $25 million in sales posted in 1998, the last year AMGN actively detailed the product. ITMN's other in-licensed products are Actimmune interferon gamma-1b for treat chronic granulomatous disease...

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