Alcon to acquire Aerie Pharmaceuticals
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Alcon has entered into a definitive merger agreement to acquire Aerie Pharmaceuticals in a deal worth approximately $770 million, according to a press release.
With the merger, Alcon will acquire Rocklatan (netarsudil 0.02% and latanoprost 0.005% ophthalmic solution) and Rhopressa (netarsudil 0.02% ophthalmic solution), both indicated for the reduction of elevated IOP in open-angle glaucoma or ocular hypertension, as well as AR-15512, a phase 3 product candidate for dry eye disease, and a pipeline of clinical and preclinical ophthalmic pharmaceutical product candidates, the release said.
The purchase price of the merger is $15.25 per share, which represents a premium of 37% to Aerie’s last closing price, for an equity value of approximately $770 million.
“ We have a 75-year history focused specifically on the eye and bring established expertise in development and commercial execution,” David Endicott, CEO of Alcon, said in the release. “Aerie is a natural fit with on-market and pipeline products, and R&D capabilities that offer the infrastructure needed to expand our ophthalmic pharmaceutical presence.”
The transaction is expected to close in the fourth quarter.
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