Company Name: InterMune, Inc.
Stock Market: NASDAQ (ITMN)
Industry Sector: Pharmaceutical Operations
Market Capitalisation: $703.5
Yearly Revenue: $66.7 million (as of December, 2007)
Operating Income: $106.9 million (loss)
Net Income: $89.6 million (loss)
Total Assets: $262.4 million
Key People: Daniel G. Welch (Chief Executive Officer and President Chief Medical Affairs and Regulatory Officer) Lawrence M. Blatt, Ph.D. (Chief Scientific Officer) Williamson Z. Bradford, M.D., Ph.D. (Senior Vice President, Clinical Science and Biometrics) John C. Hodgman (Senior Vice President of Finance and Chief Financial Officer), Steven B. Porter, M.D., Ph.D (Chief Medical Officer) Howard A. Simon, Esq., SPHR (Senior Vice President, Human Resources and Corporate Services and Associate General Counsel) Robin J. Steele, Esq. (Senior Vice President of Legal Affairs, General Counsel and Corporate Secretary)
Headquarters Address: 3280 Bayshore Boulevard Brisbane, CA 94005
Number of Employees: 32
Website Address: www.intermune.com
Company Overview
Intermune, Inc. was formed in 1998 in California and incorporated in 2000 in Delaware. It is a public and a biotech Company, and it develops and commercialises therapies in hepatology and pulmonology. Pulmonology is an area in medicine engaged in the detection and therapy of lung conditions. Hepatology is concerned with liver disorder diagnosis and treatment. The company went through a lot of reorganisations in the past years of its operations. It diverted its focus from non-core markets to developing activities for hepatology and pulmonology. According to these actions, the company extinguished oritivancin and Amphotec (amphotericin B cholesteryl sulfate complex for injection) from its portfolio. Since 2005, its base revenue has been derived from the sale of Infergen® (consensus interferon alfacon-1) and Actimmune (interferon gamma-1b).
Current Financial Overview
The company’s effort to carry out its strategy to divert its product focus is manifested in its business activities. On December 2005, the company finalised the sale of Infergen product plus associated inventory and intellectual property rights to a Valeant Pharmaceutical International subsidiary for about $120 million in cash. $6.5 million of the principal amount was accredited to the purchase of the inventory of the finished product. The company also received a $2.1 million promissory note and a $20 million milestone payment related to the transaction, from which it already received $5 million.
In October 2006, the company had an Exclusive License and Collaboration Agreement with Hoffman-LaRoche Ltd. and F. Hoffman-LaRoche Inc. to develop and market products from the company’s chronic HCV (hepatitis C virus) inhibitor programme, which includes the ITMN-191 compound. In the same month, the government granted the company a comprehensive settlement resolving the dispute with its former employees regarding a promotional activity in June 2003 that cost them $36.9 million, including 5% interest payable in five years. In March 2007, Intermune, Inc. suspended the development of Actimmune due to unsatisfactory results during its clinical trial and prior to the Data Monitoring Committee’s (DMC) recommendation. In replacement of the Actimmune, the company initiated new programmes for development including perfinidone, HCV and a new Hepatology target.
he company is planning to achieve its predetermined objectives by adopting certain strategies, including focusing their development activities in the pulmonology and hepatology areas, investing in applied and preclinical research, obtaining pulmonology and hepatology approval from the FDA, establishing appropriate corporate affiliations, and evaluating proper products for acquisition
|
