Santen completes purchase of $550 million in ophthalmology assets from Merck

Santen Pharmaceuticals has completed its ophthalmology purchase agreements with Merck, according to a company press release.

The transaction agreement of approximately $550 million consists of products intended for use in markets in Asia, including Japan and South Korea, as well as some European countries.

Santen anticipates the total transfer will total approximately $600 million, with additional contingency payments based on sales milestones and an agreement to purchase items from Merck, according to the release.

On May 13, Santen announced that they would purchase Cosopt (dorzolamide hydrochloride–timolol maleate ophthalmic solution), Cosopt PF (dorzolamide hydrochloride-timolol maleate ophthalmic solution 2%/0.5%), Trusopt (dorzolamide hydrochloride ophthalmic solution sterile ophthalmic solution 2%), Trusopt PF (preservative-free dorzolamide hydrochloride ophthalmic solution), Timoptic (timolol maleate ophthalmic solution), Timoptic PF (timolol maleate preservative-free ophthalmic solution in unit dose dispenser), Timoptic XE (timolol maleate ophthalmic gel forming solution), Saflutan (tafluprost) and Taptiqom (tafluprost-timolol maleate ophthalmic solution).

Santen is funding the transaction with a combination of cash on hand and bank loans. They plan to disclose fiscal forecasts based on the transaction on March 31, 2015, according to the release.