Alcon To Acquire EYSUVIS, INVELTYS From Kala Pharma
(RTTNews) - Alcon (ALC) said it agreed to acquire EYSUVIS (loteprednol etabonate suspension) 0.25% pharmaceutical eye drops from Kala Pharmaceuticals Inc.
EYSUVIS was approved by the U.S. Food & Drug Administration 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.
In addition, Alcon noted that it will acquire INVELTYS (loteprednol etabonate suspension) 1%, the only corticosteroid for twice-a-day treatment of post-operative inflammation and pain following ocular surgery.
As per terms of the deal, Alcon will pay $60 million in upfront consideration to Kala Pharmaceuticals. Alcon may be required to make additional contingent payments upon achievement of certain commercial milestones.
The transaction is anticipated to close in the third quarter of 2022.
Revenues for EYSUVIS and INVELTYS for full-year 2021 were $6.3 million and $4.9 million, respectively.
Alcon's full year 2022 guidance is unchanged as a result of the transaction.
