Swiss eye care company Alcon to buy Aerie Pharma for around $753 million

Aug 23 (Reuters) – Alcon AG (ALCC.S) said on Tuesday it will acquire Aerie Pharmaceuticals (AERI.O) in a deal valued at around $753 million, as the Swiss eye care company seeks to strengthen its portfolio of ophthalmic treatments. .

Alcon offered $15.25 per share, a 37% premium to Aerie’s last closing price. The value of the transaction was calculated based on Aerie’s 49.36 million shares outstanding as of August 22.

The agreement will add Aerie’s Rocklatan and Rhopressa eye drops, as well as a pipeline of numerous clinical and preclinical ophthalmic pharmaceutical product candidates, to Alcon’s portfolio.

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“Aerie is a natural complement to products in market and in development, and R&D capabilities that provide the infrastructure needed to expand our ophthalmic pharmaceutical presence,” Alcon CEO David Endicott said in a statement.

The Swiss company, which spun off from Novartis (NOVN.S) in 2019, said the deal is expected to increase its basic diluted earnings per share in 2024 and close in the fourth quarter.

In November last year, Alcon acquired US eye surgery company Ivantis for an initial consideration of $475 million.

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Reporting by Rachna Dhanrajani and Jaiveer Singh Shekhawat in Bengaluru; Editing by Rashmi Aich and Anil D’Silva

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