INTERMUNE TO SELL RIGHTS TO INFERGEN

Drug maker InterMune Inc. is selling its the U.S. and Canadian rights to its Infergen hepatitis C drug to Valeant Pharmaceuticals International for at least $113.5 million, the companies said Monday. InterMune said the divestment is part of a broad cost-cutting plan that will also include cutting 160 full-time jobs and decreasing its spending on certain disease awareness programs. Brisbane, Calif.-based InterMune said the changes will reduce operating expenses by about $50 million a year.

Forbes (http://www.forbes.com/business/feeds/ap/2005/11/28/ap2356920.html)