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Akorn acquires ophthalmic products from Merck

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Akron announced that it has acquired the U.S. rights to three branded ophthalmic products from Merck, including those rights obtained through the acquisition of Inspire Pharmaceuticals, according to an Akorn press release.

The products AzaSite (azithromycin 1% ophthalmic solution), Cosopt (dorzolamide HCl and timolol maleate) and Cosopt PF were acquired for $52.8 million in cash, the release said.

Akorn said in the press release that it plans to ship Cosopt and Cosopt PF immediately upon the close of the deal and expects to begin shipping Azasite in the first quarter of 2014.

"The addition of these branded products to Akorn's portfolio strengthens our business and leverages our existing ophthalmic sales force and physician relationships,” Akorn CEO Raj Rai said in the release.

"The decision to divest a portion of our ophthalmics business in the U.S. is part of our ongoing strategy to sharpen our commercial focus and improve our operational effectiveness," Jay Galeota, president, hospital and specialty care at Merck, said in the release. “This transaction … is designed to ensure continued access for physicians and patients to these medicines in the U.S."