AT&T Inc. to Purchase DirecTV for $67.1 Billion Including Debt and InterMune Inc.'s Lung Disease Drug Pirfenidone Submitted for Approval
AT&T, Inc. (NYSE: T) will purchase DirecTV for $67.1 billion, including debt. The company will pay $95 per DirecTV share, in a combination of cash and stock. This valuels the company's total equity at $48.5 billion. With the deal AT&T would become the second largest pay-TV company, and would gain leverage in negotiations with content producers.
AT&T Inc. provides telecommunications services to consumers and businesses in the United States and internationally. Its Wireless segment offers various wireless voice, data, text, and other services, including local wireless communications services, long-distance services, and roaming services. This segment also sells various handsets, wirelessly enabled computers, and personal computer wireless data cards through its owned stores, agents, or third-party retail stores; and accessories comprising carrying cases, hands-free devices, batteries, battery chargers, and other items to consumers, as well as to agents and third-party distributors.
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InterMune, Inc. (NASDAQ: ITMN) revealed in a regulatory filing that its new study of its lung disease drug pirfenidone will lead to U.S. regulatory approval. Pirfenidone will be submitted for approval in the next few weeks and may be on the market in the first quarter of 2015. The The drug is also known as Esbriet and is already approved in Europe to treat idiopathic pulmonary fibrosis, a lung-scarring disease without a cure whose cause is unknown.
InterMune, Inc., a biotechnology company, focuses on the research, development, and commercialization of therapies for pulmonology and orphan fibrotic diseases in North America and Europe. The company develops therapies for the treatment of idiopathic pulmonary fibrosis (IPF), a progressive, irreversible, and fatal lung disease. It markets and sells pirfenidone, an orally active, anti-fibrotic agent that inhibits the synthesis of TGF-beta and TNF-alpha under the Esbriet name for the treatment of adults with mild to moderate IPF in the European Union and Canada.
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