Wednesday 23 November 2022

Switzerland-based eye care company Alcon (SIX: ALC) (NYSE: ALC) has closed the acquisition of US-based ophthalmic-focussed pharmaceutical company Aerie Pharmaceuticals, Inc. (NASDAQ: AERI) in a deal valued at USD 770m, the company said.

This transaction affirms Alcon's commitment to the ophthalmic pharmaceutical space and is expected to add broader pharmaceutical R and D capabilities to Alcon's existing commercial expertise, maximising the value of its diversified portfolio.

Through the transaction, Alcon will add the commercial products Rocklatan (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005% and Rhopressa (netarsudil ophthalmic solution) 0.02%, as well as AR-15512, a Phase 3 product candidate for dry eye disease, and a pipeline of several clinical and preclinical ophthalmic pharmaceutical product candidates.

The transaction complements Alcon's recent expansion into the ophthalmic pharmaceutical eye drop space,

J.P. Morgan acted as Alcon's financial advisor for the transaction, and Alcon's legal advisor was Skadden, Arps, Slate, Meagher and Flom LLP.

Goldman Sachs and Co. LLC acted as Aerie's financial advisor for the transaction, and Aerie's legal advisor was Fried, Frank, Harris, Shriver and Jacobson LLP.