Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

InterMune to Fire 40% of Workers After Drug Rejected

InterMune Inc. said it will fire about 60 employees, or 40 percent of its workforce, to reduce costs after the U.S. Food and Drug Administration rejected the company’s lung drug earlier this month.

The firings will save the biotechnology company about $12 million a year, InterMune said today in a filing with the U.S. Securities and Exchange Commission. The Brisbane, California-based company said it expects to take a one-time charge of $2.4 million in the second quarter to pay for the cuts, which are expected to be completed by the end of June and will leave InterMune with about 85 employees.

The FDA rejected InterMune’s drug Esbiret as a treatment for idiopathic pulmonary fibrosis, a lung-scarring disorder. Analysts had forecast Esbiret would generate more than $1 billion in annual sales. The agency asked InterMune to conduct a new clinical trial to prove the medicine delays the progression of the disease, the company said in a statement on May 4.

InterMune tumbled 75 percent to $11.38 the day after the FDA rejection, the biggest drop since the company began trading on the Nasdaq Stock Market in March 2000. InterMune fell 3.5 percent to $8.57 at 5:55 p.m. New York time in extended trading after gaining 3 cents earlier today to close at $8.88.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.