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InterMune Reports Fourth Quarter And Full Year 2012 Financial Results And Business Highlights
Date:2/21/2013

usiness Officer.  Mr. Nolan will lead the creation and establishment of InterMune's U.S. Commercial, Business Development and Global Marketing groups.  He will also oversee InterMune's Canadian business and the company's manufacturing and supply chain operations. 
  • On February 19, InterMune reported that the company and Shionogi & Co., Ltd had reached an agreement regarding the material terms of a settlement of the complaint filed by Shionogi against InterMune.  Effective January 1, 2013, InterMune agrees to pay Shionogi a royalty of 4.25% on net sales of Esbriet in the European Union through the remaining period of Orphan Drug exclusivity ending in February 2021.  Shionogi waives any claim against InterMune to royalties on European sales of Esbriet prior to January 1, 2013 and any claim to royalties on Esbriet sales in Canada or in the United States.  The previous agreement provided for a royalty structure on net sales of pirfenidone equal to 6% of net sales for the first and second calendar year following commercialization, 8% of net sales for the third and fourth calendar year following commercialization and 10% of net sales for each subsequent calendar year thereafter.
  • Fourth Quarter and Full Year 2012 Financial Results (Unaudited)
    InterMune reported total revenue in the fourth quarter of 2012 of $8.2 million, compared with $2.7 million in the fourth quarter of 2011, an increase of 204 percent.  Fourth quarter 2012 results included the effect of the approximate 11 percent German price decrease of Esbriet, which became effective on September 15, 2012.  InterMune reported total revenue for the full year 2012 of $26.2 million, compared with $5.4 million in 2011, an increase of 385 percent.  Total revenue in 2011 consisted of $2.8 million of Esbriet revenue and $2.6 million of revenue from the company's research collaboration with Roche, which was completed in June 2011.Research and development (R
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