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Sunday, August 24, 2014

Roche to purchase U.S. biotech firm InterMune for $8.3 bln, (NASDAQ: ITMN)

Roche Holding AG has agreed to purchase U.S. biotech company InterMune Inc for $8.3 billion in cash, marking the latest multibillion-dollar deal in a consolidating pharmaceutical sector, Roche said on Sunday. The Swiss drugmaker will pay $74.00 a share for InterMune, representing a premium of 38 percent to the closing price on Aug. 22.

InterMune, Inc. (InterMune) is a biotechnology company focused on the research, development and commercialization of therapies in pulmonology and orphan fibrotic diseases. Shares of ITMN traded higher by 1.11% or $0.59/share to $53.80. In the past year, the shares have traded as low as $10.95 and as high as $55.24. On average, 2075640 shares of ITMN exchange hands on a given day and today's volume is recorded at 1435916.