Swiss pharmaceutical company Roche says it will buy a California-based developer of treatments for lung diseases, InterMune Inc., in a deal worth $8.3 billion.
Roche said Sunday the companies have reached an agreement under which Roche will acquire InterMune in an all-cash transaction, paying $74.00 per InterMune share. That's a premium of 38 percent over InterMune's closing price on Friday.
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The Swiss firm says the acquisition the biotechnology company, based in Brisbane, California, "will allow Roche to broaden and strengthen its respiratory portfolio globally."