Ipsen Completes Acquisition of Albireo Pharma

Dow Jones2023-03-03

By Cecilia Butini

Ipsen said late Thursday that it has completed the acquisition of U.S. peer Albireo Pharma Inc., which was first announced in January.

The French pharmaceutical company paid $42 a share for all the issued and outstanding shares, plus one non-transferable contingent value right of $10 a share, it said.

The acquisition will strengthen Ipsen's portfolio in rare diseases, Chief Executive David Loew said. Albireo's focus is on bile-acid modulators used to treat rare liver conditions, Ipsen said.

As part of the deal, Ipsen has also acquired two drugs in Albireo's pipeline named A3907 and A2342, currently being studied for primary sclerosing cholangitis and viral and cholestatic diseases, respectively.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

March 03, 2023 01:21 ET (06:21 GMT)

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