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
Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.
Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.
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