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Rejection of InterMune’s Drug Told Early to FDA Advisers

Three members of an independent advisory panel say they received as much as a day’s notice in May 2010 before U.S. regulators rejected a drug from InterMune Inc., now tied to an insider trading probe of SAC Capital Advisors LP.

InterMune’s shares fell 5.4 percent the day before the company announced the rejection, at a time when the panel members knew the product was doomed. Others at the company and at the Food and Drug Administration were aware of the rejection too, and there’s no evidence the 11 panelists did anything wrong. The members reached by Bloomberg said they hadn’t been contacted by U.S. authorities and weren’t aware of a probe.