Alcon to Acquire Aerie Pharmaceuticals, Inc

Alcon announced that it would acquire Aerie Pharmaceuticals in a deal valued at about $753 million. The deal will add Aerie’s Rocklatan and Rhopressa eye drops, along with a pipeline of many clinical and preclinical ophthalmic pharma product candidates, to Alcon’s portfolio.

Raj Kannan, Chief Executive Officer of Aerie Pharmaceuticals, Inc said, “We are excited to be joining Alcon, a recognized leader in eye care. I am so proud of the Aerie team and the innovation we’ve pioneered,” “Alcon is the right strategic and financial partner to maximize the potential of Aerie’s commercial franchise and our growing portfolio of pipeline assets. Alcon’s global infrastructure, financial resources, and commercial capabilities will accelerate the standard of care by helping more patients have access to Aerie’s innovative products. I am confident that this combination with Alcon is in the best interest of patients and our shareholders.”

David Endicott, CEO of Alcon said that,  “Alcon is passionate about innovative treatments in eye care, especially in core disorders such as glaucoma and dry eye, which have significant patient impact,”  “We have a 75-year history focused specifically on the eye and bring established expertise in development and commercial execution. 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. As we continue to broaden our portfolio across glaucoma, retina and ocular surface disease, we are excited to help even more patients see brilliantly.

The purchase price of $15.25 per share represents a premium of 37% to Aerie’s last closing price and represents an equity value of approximately $770 million. The transaction was approved by the board of directors of each company.

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