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What: Shares of biopharmaceutical company InterMune
So what: During the fourth quarter, InterMune sold $2.7 million of Esbriet in Germany and has sold $2.8 million since its launch in mid-September. The company expects to launch the drug in France, Spain, and Italy during the second quarter and in the United Kingdom in October.
Now what: The company also said that long-term use of Esbriet has shown positive results in trials. It also updated guidance saying that during fiscal 2011, InterMune expects to spend between $75 million and $80 million on R&D, a drop from a previously expected $85 million to $95 million. The extra money will be spent mostly on sales, general, and administrative expenses.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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