OR WAIT null SECS
Transaction expected to close at the end of this year for $19 a share.
Alfasigma announced in a company press release that it has entered into a definitive agreement to acquire Intercept Pharmaceuticals for $19 a share in cash. Under terms of the deal, Alfasigma will acquire all issued and outstanding shares of Intercept common stock. Subject to customary conditions, the transaction is expected to close by the end of this year.
The agreement will also include Ocaliva (obeticholic acid), Intercept’s lead medicine, a farnesoid X receptor agonist approved in the United States and several other jurisdictions for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid (UDCA) in adults with an inadequate response to UDCA, or as monotherapy in adults unable to tolerate UDCA.
“The acquisition of Intercept marks another important milestone in Alfasigma’s growth path, particularly with regard to the U.S. market in which we have significant development objectives,” said Francesco Balestrieri, CEO, Alfasigma, in the aforementioned release. “Intercept represents a compelling fit with Alfasigma’s core business areas of gastroenterology and hepatology, and we believe that the transaction represents a transformational opportunity for both companies. We are excited to welcome Intercept employees and look forward to working together as we invest in the company to realize the full potential, to the benefit of patients.”
Reference: Alfasigma to Acquire Intercept Pharmaceuticals for $19.00 per Share in Cash, Expanding the Global Footprint of Alfasigma Via a Leader in Rare and Serious Liver Diseases. GlobeNewswire. September 26, 2023. Accessed September 26, 2023. https://www.globenewswire.com/news-release/2023/09/26/2749452/23024/en/Alfasigma-to-Acquire-Intercept-Pharmaceuticals-for-19-00-per-Share-in-Cash-Expanding-the-Global-Footprint-of-Alfasigma-Via-a-Leader-in-Rare-and-Serious-Liver-Diseases.html