NEW YORK, June 09, 2016 (GLOBE NEWSWIRE) -- Intercept Pharmaceuticals, Inc. (Nasdaq:ICPT), a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat non-viral, progressive liver diseases, today announced the appointment of Sandip Kapadia as Chief Financial Officer. Mr. Kapadia will succeed Barbara Duncan effective July 1, who has served as CFO for Intercept since 2009. Ms. Duncan and Mr. Kapadia will work closely through a transition period to support a seamless change in leadership.
“I want to thank Barbara wholeheartedly for her critical contributions in the transformation of Intercept from a small private entity to a public biopharmaceutical company with more than 400 employees,” said Mark Pruzanski, President and CEO of Intercept. “And now at this critical juncture as we transition to a global commercial organization, I am very pleased to welcome Sandip to the executive management team as our new CFO. Sandip has substantial international financial management experience in the pharmaceutical industry and I look forward to working closely with him as we expand our commercial presence across the world, while advancing our global development programs.”
Mr. Kapadia brings over 19 years of experience in building and leading finance and administration teams at life sciences companies both in the United States and internationally. Mr. Kapadia joins Intercept from Sandoz, Inc., a division of Novartis AG, where he served as Vice President and Chief Financial Officer, North America from 2014 through 2016. Prior to that, Mr. Kapadia held finance leadership roles at Novartis Pharmaceuticals in multiple European countries, including Chief Financial Officer for the UK/Ireland based in the United Kingdom, Chief Financial Officer for Northern Europe based in the Netherlands and Head of Finance for Emerging Growth Markets for the Oncology Business Unit based in Switzerland. Mr. Kapadia earned his bachelor degree in business administration and accounting from Montclair State University, an M.B.A from Rutgers Graduate School of Management and is a Certified Public Accountant.
“I am thrilled to be joining Mark and the team at Intercept at this exciting moment in the company’s trajectory,” said Sandip Kapadia. “There are few opportunities to help build a globally integrated biopharmaceutical company focused on addressing therapeutic areas of high unmet medical need and I look forward to helping Intercept succeed in bringing innovative new medicines to patients around the world.”
About Intercept
Intercept is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat non-viral, progressive liver diseases, including primary biliary cholangitis (PBC), nonalcoholic steatohepatitis (NASH), primary sclerosing cholangitis (PSC) and biliary atresia. Founded in 2002 in New York, Intercept now has operations in the United States, Europe and Canada. For more information about Intercept, please visit: www.interceptpharma.com.
