ADVANZ PHARMA completes acquisition of Intercept’s business in Europe, Canada, and all other markets outside of the U.S.
LONDON, July 01, 2022 /CNW/ - ADVANZ PHARMA Corp. Limited ("ADVANZ PHARMA" or "the Company"), a UK-headquartered pharmaceutical company with a strategic focus on specialty and hospital pharmaceuticals in Europe, today announced that it has successfully completed the acquisition of the majority of Intercept’s subsidiaries and operations in Europe, Canada, and all other markets outside of the U.S.
Intercept Pharmaceuticals, Inc. (“Intercept”) is a U.S.-based biopharmaceutical company focused on developing and commercialising novel therapeutics to treat progressive non-viral liver diseases. The acquisition includes the ex-U.S. rights to commercialise orphan drug Ocaliva® (obeticholic acid) for primary biliary cholangitis (PBC), a progressive autoimmune disease that damages the bile ducts in the liver, giving ADVANZ PHARMA a sizable presence in the treatment of rare diseases.
“The successful completion of this transaction marks a milestone in the history of ADVANZ PHARMA, as it strengthens our position as a partner of choice for the commercialisation of specialty and hospital pharmaceuticals in Europe and Canada,” said Steffen Wagner, CEO at ADVANZ PHARMA. “The acquisition unlocks substantial value for our company and enables us to offer an expanded product portfolio for the benefit of patients.”
Intercept’s European activities complement ADVANZ PHARMA’s footprint across key markets in Western Europe. With the majority of Intercept employees outside of the U.S. transferring to ADVANZ PHARMA, this combination more than doubles ADVANZ PHARMA’s commercial and medical team with sizable additions across major EU countries while creating an effective specialty and hospital commercialisation team in the region.
ADVANZ PHARMA will build on this transaction by continuing to strengthen its platform for future acquisitions and in-licensing agreements to drive growth, especially in the areas of gastroenterology and hepatology as well as more broadly in rare diseases.
The transaction was actively supported by ADVANZ PHARMA’s owner Nordic Capital, a leading private equity investor with extensive experience and expertise in the global healthcare market, which acquired ADVANZ PHARMA in June 2021.
- James Gray