Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: InterMune (Nasdaq: ITMN) popped 10% in intraday trading today after the company announced it has been granted authorization to market its Esbriet prescription drug in Europe.

So what: Esbriet is the first medicine approved in the European Union for idiopathic pulmonary fibrosis, a progressive and fatal lung disease. There are more than 100,000 IPF patients in the 10 most-populated European nations.

Now what: Revenue and profits should get a boost from sales in Europe, which are slated to begin in Germany in September and be in place in the 10 most-populated EU nations by mid-2012. EU approval also bodes well for eventual approval in the United States. The fourth quarter was the company's first profitable quarter, and today's announcement suggests it can grow profits in the coming years.

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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.