MORRISTOWN, N.J. - Intercept Pharmaceuticals, Inc. (Nasdaq:ICPT), a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, announced that the transaction between Intercept and Advanz Pharma announced on May 5, 2022, has now closed. As a result of this transaction, Intercept's international business has been divested and its international commercial and medical infrastructure have transitioned to Advanz Pharma.

Upfront consideration for the transaction is $405 million, subject to working capital, closing costs, France reimbursement liability and other adjustments. An additional $45 million from Advanz is contingent upon receipt of extensions of orphan drug exclusivity from the EMA and MHRA. Intercept will also receive royalties on future ex-U.S. net sales of obeticholic acid for nonalcoholic steatohepatitis (NASH).

Intercept anticipates presenting revised financial guidance during its 2Q 2022 earnings.

About Intercept

Intercept is a biopharmaceutical company founded in 2002 and focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases including primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH). For more information, please visit www.interceptpharma.com or connect with the company on Twitter and LinkedIn.

About Ocaliva (obeticholic acid)

OCALIVA, a farnesoid X receptor (FXR) agonist, is indicated for the treatment of adult patients with primary biliary cholangitis (PBC) without cirrhosis or with compensated cirrhosis who do not have evidence of portal hypertension, either in combination with ursodeoxycholic acid (UDCA) with an inadequate response to UDCA or as monotherapy in patients unable to tolerate UDCA.

This indication is approved under accelerated approval based on a reduction in alkaline phosphatase (ALP). An improvement in survival or disease-related symptoms has not been established. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

Contact:

Investor

E: investors@interceptpharma.com

Media

E: media@interceptpharma.com

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