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Eyevance acquires Flarex from Novartis

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Eyevance Pharmaceuticals announced the acquisition of Flarex from Novartis AG.

Flarex (fluorometholone acetate ophthalmic suspension) 0.1% is used for the treatment of steroid-responsive inflammatory conditions of the palpebral and bulbar conjunctiva, cornea and anterior segment of the eye, according to an Eyevance press release.

“The acquisition of Flarex escalates Eyevance’s mission to service important needs in the eye care market,” Eyevance CEO and director Jerry St. Peter said in the release. “With over nine million corticosteroids prescribed annually, at a compounded annual growth rate of 3.1% over the past 5 years, this large and invaluable therapeutic category provides Eyevance a tremendous opportunity with Flarex.