Boston, MA, 07/01/2013 (financialstrend) – InterMune Inc (NASDAQ:ITMN) had recently made an announcement that the Board of the Italian Drug Agency had approved the pricing and other reimbursement conditions of the company’s drug Esbriet, the capsulation of pirfenidone for the treatment of mild to moderate levels of idiopathic pulmonary fibrosis in adult patients. This approval of the drug candidate had been published in the Official Gazette of Italy and would mark the first time commercial availability of an approved drug for the treatment of IPF patients in Italy.
It had been estimated that there are around 6000 to 9000 patients with the mild to moderate level of IPF pulmonary disease living presently in Italy. The reimbursement of the approved drug of Esbriet would thereby be processed for 15 days from the official publication of the launch in the Gazette.
Shares of InterMune Inc (NASDAQ:ITMN) declined by 5.22 percent to close at $9.62 on Friday. The opening price for the stock was at $10.12 per share and thereafter fluctuated between $9.61 and $10.18 throughout the day. The 52 week low price of InterMune Inc (NASDAQ:ITMN) is at $7.21 and 52 week high is at $12.77 per share.
With around 81.68 million shares outstanding in the market, InterMune Inc (NASDAQ:ITMN) presently has a market cap of $785.80 million. The company had witnessed the trade on 3.67 million shares on Friday, which was huge compared to the average trading volume at 1.15 million shares per day. The institutional investors contribute to around 104 percent of the total capital of InterMune Inc (NASDAQ:ITMN).
InterMune Inc (NASDAQ:ITMN) is a biopharmaceutical company with primary focus on research, development and commercialization of drugs and treatment therapies for pulmonology and orphan fibrotic diseases. The present product candidate of the company is an orally active small molecule compound named pirfenidone for the treatment of lung conditions. InterMune Inc (NASDAQ:ITMN) had recently in January 2013 commenced the commercial launch of Esbriet in Canada.