InterMune Inc. (NASDAQ: INTM) said Monday the Food and Drug Administration granted priority review to the biotechnology company's developing lung condition drug pirfenidone.
Pirfenidone is made to treat chronic lung disease idiopathic pulmonary fibrosis, which affects approximately 200,000 people in the U.S. and Europe.
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The priority review speeds up the regulatory review process to six months from the usual 10 months. The FDA is scheduled to announce its results by May 4.
The drug candidate was licensed from Marnac Inc. and its co-licensor, KDL GmbH, in 2002. In 2007, InterMune bought rights to sell the drug in the U.S., Europe and other territories except Japan, Taiwan and South Korea.
Shares of InterMune rose 19 cents to $13.23 in morning trading.
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