Advanz Pharma to acquire subsidiaries and operations of Intercept

Advanz Pharma has entered agreement to acquire most of Intercept Pharmaceuticals’ subsidiaries and operations in Canada, Europe and all other markets outside the United States.

With the acquisition, Advanz will also receive the rights of the former United States to market Ocaliva’s Intercept (obethicolic acid) for the treatment of primary biliary cholangitis (PBC).

Under the deal, Intercept is eligible to receive $ 405 million in advance payments and another $ 45 million payment from Advanz, provided it receives an exclusivity for pediatric orphans in Europe.

Intercept is also entitled to receive copyright payments for any net sales of non-alcoholic steatohepatitis (NASH) non-alcoholic acid outside the United States in the future to Advanz, seeking rights to commercialize this indication in the former US markets.

In addition, Intercept will continue to monitor the production and distribution of obetic acid worldwide, while Advanz will be involved in the packaging, supply and marketing of treatment in former US markets.

The deal is expected to strengthen Advanz’s position as a marketing partner for specialty and hospital pharmaceuticals in Europe.

Nordic Capital, which owns Advanz, supports the latest acquisition of Intercept.

Intercept develops and markets new therapies for the treatment of progressive non-viral liver disease.

Intercept’s European activities complement Advanz’s footprint in key Western European markets.

Following the acquisition, most of Intercept’s employees outside the United States will join Advanz to create a dedicated team and a hospital commercialization team.

Advanz Pharma CEO Stephen Wagner said: “Acquiring this high-quality rare disease business outside the United States increases our position as a partner of choice for specialized and hospital pharmaceuticals in Europe, and we are excited to welcome the dedicated and experienced Intercept team. will bring additional opportunities for us for the benefit of patients. “

Subject to the necessary conditions for closing, the deal is expected to be concluded in two to three months.