Intercept Pharma jumps on buyout by Italy's Alfasigma

Intercept Pharmaceuticals

26/09/2023 13:38

** Shares of Intercept Pharmaceuticals  ICPT.O  rise 79.6%
to $18.75 premarket  
    ** Italy's Alfasigma S.p.A says it has agreed to buy the
drugmaker for $794 million to expand its presence in the United
States 
    ** With the deal, Alfasigma aims to expand its treatment
portfolio related to liver diseases and digestive system
disorders  
    ** Alfasigma will pay $19 per Intercept share, which
represents a premium of 82% to ICPT's last closing price
    ** The deal is expected to close by the end of 2023
    ** Up to last close, ICPT shares were down ~15.6% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))