Sector News

Allergan agrees to buy private biotech ForSight VISION5 for $95 mln

August 12, 2016
Life sciences

Allergan PLC said early Thursday that it had agreed to acquire the private eye care biotechnology company ForSight VISION5 for $95 million.

The deal also includes a launch milestone payment for the biotech’s lead product, which is inserted on the surface of the eye and allows for the extended release of glaucoma medication, and completed mid-stage clinical trials last year.

The purchase is expected to be completed within 60 days. Allergan shares rose 13.2% over the last three months, compared with a 5.4% rise in the S&P 500.

By Emma Court

Source: MarketWatch

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