Advanz Pharma has an agreement for the acquisition of the majority of subsidiaries and operations of in Canada, Europe and all other markets that are outside of the US.
With the takeover, Advanz will also gain the ex-US rights to market Intercept鈥檚 Ocaliva (obeticholic acid) to treat primary biliary cholangitis (PBC).
As per the deal, Intercept is eligible to receive $405m in upfront payments and another payment of $45m from Advanz subject to receiving an extension of paediatric orphan exclusivity in Europe.
Intercept is also entitled to receive royalty payments on any net sales of obeticholic acid for non-alcoholic steatohepatitis (NASH) outside of the US in the future on Advanz seeking commercialisation rights for this indication in ex-US markets.
Furthermore, Intercept will continue to oversee the production and distribution of obeticholic acid across the globe while Advanz will handle packaging, supply and marketing of the treatment in ex-US markets.
The deal is anticipated to bolster Advanz鈥檚 position as a partner for marketing of specialty and hospital pharmaceuticals in Europe.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataNordic Capital, which owns Advanz, is supporting the latest acquisition of Intercept.
Intercept develops and markets new therapies for the treatment of progressive non-viral liver diseases.
European activities of Intercept complement Advanz鈥檚 footprint across crucial markets in western Europe.
Following the acquisition, most of the employees of Intercept outside of the US will become part of Advanz to create a specialty and hospital commercialisation team.
Advanz Pharma CEO Steffen Wagner said: 鈥淎cquiring this high-quality rare disease business outside of the US grows our position as a partner of choice for specialty and hospital pharmaceuticals in Europe, and we are thrilled to welcome Intercept鈥檚 dedicated and experienced team, which will bring additional capabilities to us for the benefit of patients.鈥�
Subject to necessary closing conditions, the deal is anticipated to conclude in two to three months.
