What Intercept Pharmaceuticals does

Intercept Pharmaceuticals is a US-based biopharmaceutical company founded in 2002 that develops small-molecule therapeutics for rare and serious liver diseases. Its scientific platform is built on Farnesoid X Receptor (FXR) biology, a nuclear receptor pathway the company has positioned as applicable to multiple liver indications including primary biliary cholangitis (PBC), metabolic dysfunction-associated steatohepatitis (MASH), and severe alcohol-associated hepatitis. Its sole commercial product, Ocaliva (obeticholic acid) for PBC, was voluntarily withdrawn from the US market effective November 14, 2025 following FDA concerns regarding serious liver injury risks.

The company historically generated revenue through prescription drug sales of Ocaliva, distributed via specialty pharmacies with patient support services through its Interconnect program, and reached the market through enterprise field sales targeting hepatology and gastroenterology specialists. Intercept also maintained dedicated Medical Affairs functions supporting healthcare professional education and medical information requests. In 2025, Intercept was acquired by Italian biopharmaceutical company Alfasigma S.p.A. and now operates as a wholly owned subsidiary, with current strategic emphasis redirected toward advancing investigational pipeline assets derived from the FXR platform. The restructuring included a 146-employee reduction following the Ocaliva withdrawal.

Following acquisition and withdrawal of its sole commercial product, Intercept currently operates without an active revenue-generating product. Its customer base — patients with rare and serious liver diseases and the specialist physicians who treat them — is a narrow, high-acuity segment. Forward strategic direction is now contingent on pipeline progression under Alfasigma's global biopharmaceutical infrastructure, which spans more than 100 countries.

Name

Intercept Pharmaceuticals

Legal name

Intercept Pharmaceuticals, Inc.

Website

https://interceptpharma.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Intercept Pharmaceuticals is a US biopharmaceutical company developing small-molecule therapeutics for rare and serious liver diseases using its Farnesoid X Receptor (FXR) biology platform. Now a wholly owned subsidiary of Alfasigma S.p.A., it is restructuring after withdrawing Ocaliva from the US market.

Ownership category

akta.pro rank

Product category

Specialty Biopharmaceuticals — Liver Disease Therapeutics

NAICS

Pharmaceutical and Medicine Manufacturing (32541), Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Gastroenterology & Hepatology Pharmaceuticals (HLAIAAAI)

akta.pro secondary industries

Gastroenterology Specialty Pharmaceuticals (HLAIACAE), Rare Gastroenterology & Hepatology Disorder Therapies (HLAIAIAL)

Keywords

• Liver disease therapeutics
• FXR biology platform
• Rare disease pharmaceuticals
• Primary biliary cholangitis
• Small molecule drugs

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. Pharmaceutical Drug Sales: Intercept historically generated revenue through sales of prescription pharmaceutical products, specifically Ocaliva (obeticholic acid) for primary biliary cholangitis (PBC). Following the voluntary withdrawal of Ocaliva from the US market in September 2025, the company is restructuring and refocusing on developing new pipeline assets.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Intercept Pharmaceuticals develops and commercializes small molecule therapeutics for rare and serious liver diseases, anchored by its proprietary Farnesoid X Receptor (FXR) biology platform. Its principal product, Ocaliva (obeticholic acid), was an FXR agonist approved for primary biliary cholangitis (PBC) in the US, but was voluntarily withdrawn from the US market in late 2025 following FDA safety concerns. The company is now restructuring and refocusing its development pipeline on additional liver disease indications, including severe alcohol-associated hepatitis and MASH/NASH.

Product overview

Intercept Pharmaceuticals is a biopharmaceutical company focused on developing novel medicines for rare and serious liver diseases. The company's primary product was Ocaliva (obeticholic acid) for primary biliary cholangitis (PBC), which has been withdrawn from the market. Their research is centered on Farnesoid X Receptor (FXR) biology with potential applications across multiple liver diseases including severe alcohol-associated hepatitis. Intercept operates as a wholly owned subsidiary of Alfasigma S.p.A.

Differentiator

Problem solved

Functional benefit

Products and services

• Ocaliva (obeticholic acid) Ocaliva (obeticholic acid) was a prescription small molecule FXR agonist indicated for the treatment of primary biliary cholangitis (PBC) in adults, distributed through US specialty pharmacies with patient support provided by Intercept's Interconnect program. It was voluntarily withdrawn from the US market effective November 14, 2025 due to FDA safety concerns.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Alfasigma S.p.A.coreOthersIntercept Pharmaceuticals was acquired by Alfasigma S.p.A. and operates as a wholly owned biopharmaceutical subsidiary. Alfasigma is a rapidly expanding global biopharmaceutical leader with presence in over 100 countries. In March 2026, Alfasigma received FDA approval for linerixibat (Lynavoy) for cholestatic pruritus in primary biliary cholangitis, licensed from GSK in a deal worth up to $690 million with $300 million upfront payment. Alfasigma is also actively involved in the Ocaliva withdrawal process and patient transition support.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Madrigal Pharmaceuticals: Madrigal Pharmaceuticals is a direct peer focused on developing therapies for liver diseases, most notably Rezdiffra (resmetirom) for MASH. Like Intercept, Madrigal targets chronic liver disease via novel mechanisms, and both companies compete for the same hepatology/gastroenterology specialist audience and liver-focused commercial infrastructure.
• Akero Therapeutics: Akero Therapeutics is a clinical-stage biopharmaceutical company developing efruxifermin (an FGF21 analog) for MASH and compensated liver fibrosis. It is directly comparable to Intercept as a liver-focused company pursuing novel mechanisms for serious chronic liver diseases with high unmet need.
• Genfit: Genfit is a France-based biopharmaceutical company with a long-standing focus on liver diseases, particularly MASH and PBC, including development of elafibranor and other candidates. It is a direct peer given its similar therapeutic area focus, public market presence, and positioning around chronic liver indications.
• CymaBay Therapeutics: CymaBay Therapeutics developed seladelpar for PBC before being acquired by Gilead Sciences. It is highly comparable to Intercept as a PBC-focused specialty liver company, and both companies have pursued FXR-adjacent pathways and orphan drug strategies for rare cholestatic liver diseases.

Emerging players

• Galectin Therapeutics: Galectin Therapeutics is a clinical-stage company developing belapectin for liver cirrhosis and MASH. It is comparable to Intercept as a smaller, liver-focused biotech pursuing novel mechanisms for chronic fibrotic liver diseases, though it operates at an earlier stage and without Intercept's prior commercial infrastructure.
• Pliant Therapeutics: Pliant Therapeutics is a clinical-stage biotech developing integrin-based therapies for fibrotic diseases, including liver fibrosis. It overlaps with Intercept around the fibrotic liver disease space and shares a similar mechanism-driven, novel-target approach to chronic liver conditions.
• NGM Biopharmaceuticals: NGM Biopharmaceuticals develops novel biologics for metabolic and liver diseases, including work in primary sclerosing cholangitis and other cholestatic conditions. It is an emerging peer that targets adjacent rare and serious liver indications similar to Intercept's historical PBC focus.

Broad incumbents

• Gilead Sciences: Gilead Sciences is a major biopharmaceutical company with a meaningful hepatology franchise including the CymaBay/PBC asset seladelpar and broader liver disease ambitions. It is a broad incumbent that competes with Intercept in the same liver-disease commercial channels and increasingly in the PBC therapeutic area.
• AbbVie: AbbVie is a large global biopharmaceutical company with a substantial hepatology franchise and historical presence in liver-related indications. It competes for the same specialty hepatology prescribing audience and has the resources to pursue multiple liver disease programs in parallel.
• Bristol-Myers Squibb: Bristol-Myers Squibb is a large biopharmaceutical company with a strong specialty sales force that has historically been deployed in hepatology and gastroenterology. Several Intercept senior leaders (e.g., SVP of US Sales) previously held commercial leadership roles at BMS, and BMS represents the type of broad incumbent that Intercept's commercial organization was structured to compete against.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Customer concentration

• Xx.com/InterceptPharma
• LinkedInlinkedin.com/company/intercept-pharmaceuticals

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds8 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Intercept Pharmaceuticals