The deal is expected to strengthen Alfasigma's pipeline, including the addition of a novel fixed-dose combination that has the potential to establish a new treatment paradigm for primary biliary cholangitis
Alfasigma through its wholly-owned subsidiary Interstellar Acquisition has completed the acquisition of Intercept Pharmaceuticals.
The acquisition involved a tender offer to purchase all outstanding shares of common stock of Intercept for $19 per share in cash. Following the completion of the tender offer, Alfasigma acquired all remaining shares of Intercept through a merger.
As a result of the transaction, Intercept has now become a wholly owned subsidiary of Alfasigma, and the common stock of Intercept is no longer traded on the NASDAQ Stock Market.
With the acquisition, Alfasigma added Ocaliva to its portfolio. Ocaliva is the only second-line treatment approved by the FDA for primary biliary cholangitis (PBC), a progressive autoimmune disease affecting the liver.
The deal is expected to strengthen Alfasigma’s pipeline, including the addition of a novel fixed-dose combination that has the potential to establish a new treatment paradigm for PBC.
Alfasigma chairman Stefano Golinelli said: “At Alfasigma, the passion we have for Pharmaceuticals is in our DNA – and a driver for our ambitious international growth plans. Thus, we are delighted to announce the successful outcome of our tender offer for Intercept Pharmaceuticals.
“This transaction not only allows us to expand our portfolio with Ocaliva, a leading treatment against PBC, it is also central to strengthening our presence in the highly attractive US market.
“This deal represents an important opportunity for both companies and certifies Alfasigma’s commitment to our mission of improving people’s health and quality of life.”
Alfasigma CEO Francesco Balestrieri said: “Intercept’s leading product Ocaliva is the first and only FDA-approved second-line treatment for adult patients with PBC.
“Furthermore, Alfasigma will benefit from a strengthened innovation and R&D pipeline, including the addition of a novel fixed-dose combination of obeticholic acid and bezafibrate with the potential to establish a new paradigm in the treatment of patients with PBC.
“This deal represents significant progress in Alfasigma’s international growth plan, and we look forward to working with our colleagues at Intercept to provide innovative and effective treatment options for patients affected by severe liver diseases, and to growing our business in the US.”