Albireo Pharma

What Albireo Pharma does

Albireo Pharma was a US-incorporated biotechnology company (NASDAQ: ALBO; founded 2008) that developed novel bile acid modulators for the treatment of rare cholestatic liver disorders and associated pruritus, including Progressive Familial Intrahepatic Cholestasis (PFIC), Primary Biliary Cholangitis (PBC), Primary Sclerosing Cholangitis (PSC), and biliary atresia. The company's core technology centered on ileal bile acid transporter (IBAT) inhibition, with its lead asset Bylvay (odevixibat) becoming the first approved IBAT inhibitor for treating cholestatic pruritus and PFIC. Bylvay generated approximately €180 million (~$203 million) in 2025 sales, making it the central commercial asset of the company.

Albireo's business model was a traditional specialty biopharma model: it developed and sought regulatory approval for a single differentiated therapy in an underserved rare disease niche, then commercialized it at orphan-drug pricing through a focused commercial organization. Following the March 2023 acquisition by France-based Ipsen for $952 million, Albireo became a wholly-owned subsidiary and its products are now distributed through Ipsen's global pharmaceutical network spanning the Americas, Europe, Asia Pacific, and the Middle East & Africa. The company had 101–250 employees and was led by an executive team including David Chiswell (Executive Chairman) and other CXO-level officers.

Post-acquisition, the Albireo-derived pipeline has been rationalized: two drug candidates (ritivixibat and A2342) were discontinued in 2026, with ritivixibat's phase 2 trial terminated due to recruitment challenges. Bylvay remains the strategic asset, with an ongoing phase 3 trial in biliary atresia as the principal label-expansion lever. Albireo no longer operates as an independent entity, and its market relevance is now expressed through the performance of Bylvay within Ipsen's rare disease portfolio.

Name

Albireo Pharma

Legal name

Albireo Pharma Inc.

Website

https://albireopharma.com

Company type

Private

Founded year

2008

Operating status

Acquired

Headcount range

101–250 employees

Short description

Albireo Pharma is a US-based biopharmaceutical company developing novel bile acid modulators, notably the approved IBAT inhibitor Bylvay (odevixibat), for rare cholestatic liver disorders and pruritus. Acquired by Ipsen in 2023 for $952 million, it now operates as a wholly-owned subsidiary.

Ownership category

akta.pro rank

Product category

Rare Disease Pharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Rare Gastroenterology & Hepatology Disorder Therapies (HLAIAIAL)

akta.pro secondary industries

Gastroenterology Specialty Pharmaceuticals (HLAIACAE), Gastroenterology & Hepatology Pharmaceuticals (HLAIAAAI)

Keywords

• Rare disease therapeutics
• Bile acid modulators
• IBAT inhibitors
• Cholestatic liver disease drugs
• Pediatric hepatology

Headquarters

HQ city

Gothenburg

HQ country

Sweden

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Bylvay Product Sales: Sales of Bylvay, the approved IBAT inhibitor, which posted €180 million (approximately $203 million) in 2025 sales, representing the primary revenue stream from Albireo's acquired portfolio.

Core offering

Albireo Pharma develops and commercializes novel bile acid modulators, including the approved oral IBAT inhibitor Bylvay (odevixibat), for the treatment of rare cholestatic liver disorders such as progressive familial intrahepatic cholestasis (PFIC) and biliary atresia, as well as associated cholestatic pruritus. Following its 2023 acquisition by Ipsen, Albireo operates as a wholly-owned subsidiary within Ipsen's rare disease division, with Bylvay generating approximately €180 million in 2025 sales.

Product overview

Albireo Pharma was a biopharmaceutical company specializing in novel bile acid modulators for treating rare cholestatic liver disorders and pruritus (itching). The company's product portfolio centered around Bylvay, the approved IBAT inhibitor that became the centerpiece of Ipsen's $952 million acquisition of Albireo in 2023. The company also developed earlier-stage candidates including ritivixibat and A2342, which were later discontinued from Ipsen's pipeline following the acquisition.

Differentiator

Problem solved

Functional benefit

Brands

• Bylvay: Odevixibat - an approved IBAT inhibitor for the treatment of progressive familial intrahepatic cholestasis (PFIC) and biliary atresia

Products and services

• Bylvay (odevixibat) Bylvay is an approved oral IBAT (ileal bile acid transporter) inhibitor indicated for the treatment of progressive familial intrahepatic cholestasis (PFIC) in patients aged 6 months and older, and is being evaluated in a phase 3 trial for biliary atresia. It is Albireo's flagship commercial product and the centerpiece of Ipsen's 2023 acquisition, generating €180 million (~$203 million) in 2025 sales.

Quantifiable outcome

• €180 million in 2025 sales for Bylvay
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• IpsencoreStrategic or Co-development Partner · 1 March 2023Ipsen acquired Albireo Pharma in March 2023 for $952 million to strengthen its rare diseases portfolio. The acquisition brought Bylvay (approved IBAT inhibitor), ritivixibat, and A2342 pipeline candidates. While ritivixibat and A2342 have since been discontinued, Bylvay remains a key asset with €180 million in 2025 sales and ongoing phase 3 trial in biliary atresia.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Mirum Pharmaceuticals: Mirum is the most direct competitor to Albireo's Bylvay, marketing maralixibat (LIVMARLI) — another approved IBAT inhibitor — for cholestatic pruritus in Alagille syndrome and PFIC, directly overlapping Albireo's mechanism, indications, and prescriber base.
• Intercept Pharmaceuticals: Intercept developed obeticholic acid (Ocaliva) for primary biliary cholangitis (PBC), a cholestatic liver disease also addressed in Albireo's pipeline and patient segments, making it a direct comparator in rare cholestatic disease therapeutics.
• Genfit: Genfit is developing elafibranor for PBC and other cholestatic/gastroenterology indications, overlapping Albireo's specialty gastroenterology and hepatology therapeutic focus.
• CymaBay Therapeutics: CymaBay developed seladelpar for PBC, a cholestatic liver disease adjacent to Albireo's rare liver disease portfolio; acquired by Gilead, it represents a comparable specialty hepatology franchise.
• Madrigal Pharmaceuticals: Madrigal's resmetirom (Rezdiffra) for MASH/NASH positions it in the specialty hepatology space, sharing the rare/specialty liver disease focus and prescriber base that Albireo's Bylvay targets.

Emerging players

• Calliditas Therapeutics: Calliditas is a Sweden-based rare-disease specialty pharma with comparable European roots and a focus on underserved indications, mirroring Albireo's Stockholm/Gothenburg origin and rare-disease strategy.
• Pliant Therapeutics: Pliant is developing therapies for liver fibrosis and rare fibrotic diseases, sharing the rare-hepatology therapeutic focus and clinical-stage profile relevant to Albireo's pipeline extensions.

Broad incumbents

• Travere Therapeutics: Travere is a broader rare-disease biopharma with products in rare kidney and metabolic indications; its specialty-rare commercial model and rare-disease focus parallel Albireo's positioning under Ipsen.

Others

• Ipsen: Ipsen is Albireo's parent company and acquired the firm in 2023 for $952M to add Bylvay and rare liver disease capabilities to its rare-disease franchise; relevant as the integrated commercial umbrella for Bylvay.

Market position

Strengths4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/albireopharma
• Instagraminstagram.com/ipsengroup
• Xx.com/albireopharma

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds3 records

Investors3 records

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

M&A1 record

Investments

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

Frequently asked questions about Albireo Pharma