Aerie Pharmaceuticals (NASDAQ: AERI) Enters into Agreement to be Acquired by Alcon (NYSE: ALC) for $770 Million

Aerie Pharmaceuticals, Inc. (NASDAQ: AERI) is engaged within the research, development and commercialization of ophthalmic therapies for the treatment of eye diseases and conditions. Shares of the eye care company are rallying 35% through early trading on Tuesday, August 23, 2022. Over the past three months, Aerie Pharmaceuticals has seen average daily volume of 646,200 shares. However, volume of 15.27 million shares or dollar volume of around $229.97 million, has already exchanged hands through early trading.

Shares of Aerie Pharmaceuticals are gaining after the company announced that it has entered into a definitive agreement to be acquired by Alcon (NYSE: ALC), an eye health care company with a 75-year history. Under the terms of the agreement, Alcon will acquire all outstanding shares of Aerie for $15.75 per share or a total transaction value of $770 million.

The acquisition comes as Alcon looks to bolster its commercial products and pipeline. Once the transaction is completed, Alcon will receive ownership of Aerie Pharmaceuticals’ Rocklatan and Rhopressa products, as well as several product candidates like AR-15512, a Phase 3 product to treat dry eye disease. The move comes as Alcon has been bolstering its ophthalmic pharmaceutical eye drop business through strategic product acquisitions of Simbrinza from Novartis in 2021 and Eysuvis and Inveltys from Kala Pharma in 2022.

The acquisition of Aerie Pharmaceuticals is estimated to close sometime during the fourth quarter of 2022, pending shareholder and regulatory approvals. Upon completion, Alcon is estimated to begin reflecting the transaction in its core EPS by 2024.

“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.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/

The post Aerie Pharmaceuticals (NASDAQ: AERI) Enters into Agreement to be Acquired by Alcon (NYSE: ALC) for $770 Million appeared first on Spotlight Growth.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.