Viatris to acquire Oyster Point, Famy Life Sciences
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Viatris Inc. announced that it will be acquiring both Oyster Point Pharma and Famy Life Sciences, which will help the company meet its goal of creating an ophthalmology franchise, according to a press release.
“These acquisitions bring us an innovative growth asset, Tyrvaya, and five additional phase III or phase III-ready programs that give us a significant head-start in creating a leading ophthalmology franchise," Michael Goettler, CEO of Viatris, said in the release.
Source: Adobe Stock.
The franchise will reportedly function as a separate division within Viatris and will be led by Oyster Point CEO, Jeff Nau, PhD, after the acquisition of Oyster Point is closed in what the company expects to be the first quarter of 2023.
The terms of the agreement specify that Viatris will acquire Oyster Point for $11 per share in cash up front, with the company expected to acquire both companies for an aggregate of $700 million to $750 million in cash. Oyster Point stockholders will also receive one non-tradeable contingent value right each, which may represent up to an additional $2 per share depending on the metrics met throughout the company’s full 2022 performance.
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