Shares of Intercept Pharmaceuticals, Inc (Nasdaq: ICPT) plunged over 40% after the U.S. U.S. Food and Drug Administration (FDA) declined to approve the firm’s therapy for liver disease. As a result, Intercept share price trades at a 7-year low.  Fundamental analysis: “Premature decision” says CEO Intercept, the US-based biopharma company developing novel therapeutics to treat liver diseases, said today that the FDA refused to approve its chronic liver disease therapy.  The pharma company has submitted a New Drug Application (NDA) for obeticholic acid (OCA). This therapy is used to treat fibrosis – a chronic disease related to obesity, caused by

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