Intercept Pharmaceuticals Reports 40% Revenue Growth for 2019
Intercept Pharmaceuticals (NASDAQ:ICPT) released its fourth-quarter report on Tuesday, and the among the highlights was an annual revenue figure 40% higher than 2018's result. Ocaliva, the company's primary biliary cholangitis (PBC) drug, brought in $70 million for the quarter and $249.6 million for the year.
Intercept has filed a new drug application with the Food and Drug Administration to expand the label indication for Ocaliva to include treating liver fibrosis due to non-alcoholic steatohepatitis (NASH). This is a common condition caused by fatty buildups in the liver. The company says that 16 million people worldwide have fibrosis due to NASH. There are no FDA-approved treatments for the disease; the company hopes Ocaliva will be the first. The FDA has set a target action date of June 26 to complete its review of the application.
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Source Fool.com
