- Alcon AG (NYSE: ALC) has agreed to acquire Eysuvis (loteprednol etabonate suspension) 0.25% pharmaceutical eye drops from Kala Pharmaceuticals Inc (NASDAQ: KALA).
- Eysuvis will complement the Systane family of eye drops, including the recently launched Systane Preservative-Free formulations now available in a convenient, multi-dose bottle.
- While the Systane family is used for ongoing management of dry eye symptoms, Eysuvis will provide Eye Care Professionals (ECPs) with an option for short-term treatment to mitigate dry eye disease.
- The FDA approved Eysuvis in January 2021 as the first-and-only corticosteroid indicated for up to two weeks of treatment of the signs and symptoms of dry eye disease.
- Alcon will also acquire Inveltys (loteprednol etabonate suspension) 1%, twice-a-day treatment of post-operative inflammation and pain following ocular surgery.
- Under the terms of the agreement, Alcon will pay $60 million in upfront consideration and may be required to make additional contingent payments upon achieving certain commercial milestones.
- The transaction will close in Q3 2022.
- FY21 revenues for Eysuvis and Inveltys were $6.3 million and $4.9 million, respectively.
- Price Action: KALA shares are up 16.8% at $0.75 during the premarket session on Monday's last check, and ALC closed higher by 0.62% at $72.68 on Friday.
Read at Benzinga