Allergan (AGN) Will Buy This Company For $95M
Author By Sophia VidaPosted on Headquartered in Dublin, Ireland, global pharmaceutical company Allergan, has just agreed to acquire private eye care biotechnology company ForSight VISION5 for $95 million.
The deal will also include the 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.
ForSight VISION5 makes a ring that rests on the surface of the eye beneath the eyelid, to be inserted by an ophthalmologist or optometrist.
The ring releases Allergan’s glaucoma drug bimatoprost (Lumigan) and treats glaucoma over the course of multiple months by reducing pressure in the eye.
The purchase is expected to be completed within 60 days.
Disclaimer: We have no position in Allergan (NYSE: AGN) and have not been compensated for this article.
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