The FDA decision on Ipsen (IPSEY) and GENFIT’s (GNFT) Elafibranor is expected on June 10, 2024.Elafibranor is proposed for the treatment of patients with the rare cholestatic liver disease, primary biliary cholangitis (PBC), who have an inadequate response or intolerance to the current standard of care therapy, ursodeoxycholic acid.Under a licensing agreement signed in December 2021, Ipsen secured global rights to develop and commercialize GENFIT’s Elafibranor in Primary Biliary Cholangitis. If approved, Elafibranor would compete with Intercept Pharmaceuticals, Inc.’s (ICPT) Ocaliva that was granted accelerated approval by the FDA for primary biliary cholangitis in 2016.Ipsen expects global annual peak sales of Elafibranor to exceed $500 million.GNFT closed Wednesday’s trading at $5.19, up 12.83%.