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Merck to acquire Inspire Pharmaceuticals
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RALEIGH, N.C. — Merck has entered into a definitive agreement to acquire Inspire Pharmaceuticals, according to a press release from Inspire.
Under the terms of the agreement, a subsidiary of Merck will tender Inspire shareholders a total of $430 million in cash at a price of $5 per share. Warburg Pincus Private Equity IX, owner of approximately 28% of Inspire's outstanding shares, will tender all of its shares in the offer, the release said.
"This acquisition combines the talented commercialization organization at Inspire with the excellent team already in place at Merck, thereby strengthening our ophthalmology business and positioning us for future growth with an expanded portfolio," Beverly Lybrand, Merck's senior vice president and general manager, neuroscience and ophthalmology, said in the release.
The closing of the acquisition will depend on certain financial and customary closing conditions, at which point Merck will acquire all remaining shares, the release said.