Roche/InterMune

Roche/InterMune
Deal value: $8.6 billion
Deal status: Closed

When Roche ($RHHBY) came into the InterMune picture, the drugmaker was on its second go-around with the FDA over idiopathic pulmonary fibrosis (IPF) treatment Esbriet; U.S. regulators had spurned the drug in 2010 and asked for another Phase III trial. But with that new data under InterMune's belt and a breakthrough designation in hand, Roche saw an opportunity--and it struck.

Roche put down $74 per share to get its hands on the therapy, which it said it would launch that year. Esbriet, already approved in Europe, would beef up its respiratory lineup, which already included asthma med Xolair, cystic fibrosis therapy Pulmozyme, and in-development asthma-fighter lebrikizumab.

But though the FDA did grant Esbriet approval in October, it didn't do so without throwing a little competition into the mix, too. That same day, it green-lighted competing product Ofev from Boehringer Ingelheim, setting up a market battle with its first-ever IPF approvals.

So while analysts figure Esbriet can pass the blockbuster mark, it'll have to hustle to do so. And now, the German drugmaker is taking Roche on in Europe, too: It nabbed approval on the continent last month after a November recommendation from the EMA's Committee for Medicinal Products for Human Use.

For more:
Special Report: The new drug approvals of 2014 - Esbriet - Ofev
Boehringer one step closer to challenging Roche in Europe with EMA IPF nod
Same-day approvals send Roche, Boehringer to IPF market battle
Roche ready to roll on InterMune's lung drug with $8.6B buyout deal
InterMune takeover talk is tantalizing, but are investors too optimistic?

--Carly Helfand (email | Twitter)

Roche/InterMune
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