Intercept Beats Investors’ Liver Drug Death Statements Suit

Intercept Pharmaceuticals Inc. won’t have to face a would-be class action accusing it of misleading investors about the safety of a new liver drug after a New York federal district judge dismissed the case.

The biopharmaceutical firm’s investors didn’t sufficiently allege that Intercept’s statements about the safety of Ocaliva, a treatment for a rare liver disease, and patients’ compliance with dosing instructions were materially misleading, the U.S. District Court for the Southern District of New York said Thursday.

The investors argued that Intercept should have told them about 30 serious adverse events—deaths or serious injuries—in 27 of aorund 3,000 Ocaliva ...