(RTTNews) - Ocumension Therapeutics, Monday announced an agreement to acquire commercialization rights of a Chinese portfolio of dry eye treatments and procedural drops of Alcon Inc. (ALC), in exchange for 16.71 percent equity stake.
Under the agreement, the ophthalmic pharmaceutical platform, would acquire outright Tears Natural Forte, Bion Tears, Alcaine, Fluorescite, and Cyclogyl, in the Chinese market and the commercialization rights in the country to Systane Ultra and AR-15512.
After a transition period, the Chinese company would also start manufacturing these acquired products, which is expected to enhance the company's position in the market.
Currently, Alcon's stock is dropping 0.59 percent, to $92.38 on the New York Stock Exchange.
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