- Alcon AG ALC has agreed to acquire Aerie Pharmaceuticals Inc AERI for $15.25 per share, valuing Aerie at about $770 million.
- The purchase price represented a premium of 37% to Aerie's last closing price as Alcon looks to bolster its pipeline of ophthalmic treatments.
- The deal will add Aerie's Rocklatan and Rhopressa eye drops and a pipeline of many clinical and preclinical ophthalmic pharma product candidates to Alcon's portfolio.
- "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," said Alcon CEO David Endicott
- Alcon expects the deal to be accretive to its core EPS in 2024 and close in the fourth quarter.
- Alcon ended the first half of 2022 with a cash position of $1 billion.
- In May, Alcon acquired Eysuvis pharmaceutical eye drops from Kala Pharmaceuticals Inc KALA for $60 million upfront.
- In November last year, Alcon acquired U.S. eye-surgery company Ivantis for an initial consideration of $475 million.
- Price Action: AERI stock is up 33.99% at $14.94, and ALC shares are up 1.21% at $68.76 during the premarket session on the last check Tuesday.
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