Intercept Shares Rise as Drug Sales Recover After Patient Deaths
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Intercept Pharmaceuticals Inc. rose to the highest level since September after the company reported increasing sales of its potential blockbuster Ocaliva, a drug previously linked by U.S. officials to the death of 19 people.
Sales of Ocaliva, which is approved to treat a rare liver disease called primary biliary cholangitis, climbed to $43.2 million in the second quarter, the New York-based drugmaker said Thursday. That beat analysts’ estimates of $40.3 million, and was up $8 million from the previous quarter.