Alcon (NYSE: ALC) and Aerie Pharmaceuticals, Inc. (NASDAQ: AERI) has announced entry into a definitive merger agreement where Alcon will acquire Aerie. Alcon will add commercial products Rocklatan and Rhopressa and a pipeline of several clinical and preclinical ophthalmic pharmaceutical product candidates. “Alcon is passionate about innovative treatments in eye care, especially in core disorders such as glaucoma and dry eye, which have significant patient impact,” said David Endicott, CEO of Alcon. “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.”
“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,” said Raj Kannan, Chief Executive Officer of Aerie Pharmaceuticals, Inc. “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.”
The purchase price of USD 15.25 per share represents a 37% premium to Aerie’s previous closing price and an equity value of USD 770 Million. This transaction was approved by the board of directors of both companies.