Alfasigma completes acquisition of Intercept Pharmaceuticals, Inc.

BOLOGNA, Italy and MORRISTOWN, N.J., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Alfasigma S.p.A. (“Alfasigma”) and Intercept Pharmaceuticals, Inc. (“Intercept”) announced today the completion of the acquisition of Intercept by Alfasigma through its wholly owned subsidiary Interstellar Acquisition Inc.

Following the completion of Alfasigma’s successful tender offer to purchase all outstanding shares of common stock of Intercept for USD 19.00 per share, net to the seller thereof in cash, without interest, less any applicable withholding of taxes, Alfasigma acquired all remaining shares of common stock of Intercept through a merger pursuant to Section 251(h) of the General Corporation Law of the State of Delaware. As a result of the transaction, Intercept has become a wholly owned subsidiary of Alfasigma, and the common stock of Intercept has ceased to be traded on the NASDAQ Stock Market.

At the effective time of the merger, and subject to any perfected appraisal rights, all of the remaining shares of common stock of Intercept not purchased in the tender offer were converted into the right to receive the same USD 19.00 per share, net to the seller thereof in cash, without interest, less any applicable withholding of taxes.

With this transaction, Alfasigma adds Ocaliva to its portfolio, the only second-line treatment approved by the Food and Drug Administration (FDA) for primary biliary cholangitis (PBC), a progressive autoimmune disease affecting the liver. The deal will strengthen Alfasigma's pipeline, with the addition of a novel fixed-dose combination possibly establishing a new treatment paradigm for PBC.

Stefano Golinelli, Chairman of Alfasigma, commented: “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, Inc. 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”.