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Albireo to Be Acquired by Ipsen

Paul, Weiss is advising Boston-based biotech company Albireo, a leading innovator in liver disease treatments, in its acquisition by French biopharmaceutical company Ipsen. Under the terms of the transaction, Ipsen will initiate a cash tender offer to acquire all issued and outstanding shares of Albireo for $42.00 per share for an initial estimated cash consideration of $952 million, as well as an additional cash payment of $10.00 per share contingent on the FDA’s approval of Albireo’s treatment Bylvay for biliary atresia, a rare disease of the liver and bile ducts in infants. Bylvay is also the first approved treatment in the U.S. and EU for progressive familial intrahepatic cholestasis, a progressive liver disease. The deal is expected to close by the end of the first half of 2023.

The Paul, Weiss team includes corporate partners Krishna Veeraraghavan and Kyle Seifried, and counsel Benjamin Goodchild; executive compensation partners Jean McLoughlin and Rebecca Coccaro, and counsel Ron Aizen, Cynthia Akard and Meghan Fox; intellectual property partner Jonathan Ashtor; litigation partner Joshua Soven and counsel Steven Herzog; tax partner Brian Krause and counsel Anne McGinnis; and antitrust counsel Marta Kelly.

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