InterMune now an ideal acquisition target, Baird says in raising price target


InterMune's (ITMN +162.8%) spectacular gains after reporting positive ASCEND data (I, II) may have further to go, Baird analyst Brian Skorney believes, viewing ITMN as an ideal acquisition target for a big pharma company.

A substantial unmet need in idiopathic pulmonary fibrosis provides a blockbuster market opportunity, Baird says, with a number of companies with the capability to sell ITMN's drug with their current salesforce, most notably GlaxoSmithKline (GSK), Gilead (GILD) and Novartis (NVS); Skorney sees a potential acquisition price into the 60s.

Even without an acquisition, Skorney thinks ITMN should reach $44, with clinical risk is now in the rear-view mirror and potential for greater penetration and higher pricing in the U.S.

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  • joenjensen
    , contributor
    Comments (701) | Send Message
     
    My Father passed away from Pulmonary Fibrosis 35 years ago because he worked in the Brooklyn Navy yard in the 1940's when they were spraying asbestos in the inboard passage ways where he worked as an electrician.
    During the early 1970's he got the disease and was diagnosed terminal and had 5 years to live, he fought hard but he suffered because of the disease.
    He breathed less and less with each passing day until it was over in 1977.
    I sincerely hope this new drug does what it says it can, i.e. make the patient breath easier, and extend his or her life.
    25 Feb 2014, 09:09 PM Reply Like
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