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France-Based Ipsen Acquires Albireo Pharma Enriching Its Rare Disease Portfolio, Pipeline

France-Based Ipsen Acquires Albireo Pharma Enriching Its Rare Disease Portfolio, Pipeline

Ipsen (OTC: IPSEY) has agreed to acquire Albireo Pharma Inc (NASDAQ: ALBO) at $42.00 per share in cash for an initial estimated aggregate consideration of $952 million plus one contingent value right (CVR) per share.

Each CVR will entitle its holder to deferred cash payments of $10.00 per CVR payable upon the FDA approval of Bylvay in the Biliary Atresia indication at the latest by Dec. 31, 2027.

The acquisition of Albireo will provide immediate incremental sales and strengthen Ipsen's rare disease infrastructure.

Albireo guided for total Bylvay revenues of $24 million for 2022.

The transaction is expected to be dilutive to Ipsen's core operating income until the end of 2024.

The deal is anticipated to close by the end of Q1 2023.

The lead medicine in Albireo's pipeline is Bylvay (odevixibat), approved in 2021 in the U.S. for pruritus in patients three months of age and older with progressive familial intrahepatic cholestasis (PFIC) and in the E.U. for PFIC in patients aged six months or older.

As part of the transaction, Ipsen will also acquire Albireo's clinical stage asset A3907, in development for adult cholestatic liver disease, which could complement Ipsen's existing development programs.

Price Action: ALBO shares are up 92.59% at $43.95 during the premarket session on the last check Monday.

January 10

https://finance.yahoo.com/

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