logo
Share SHARE
FONT-SIZE Plus   Neg

Valeant Pharmaceuticals Agrees To Buy Ophthalmic Biotechnology Company EyeTech

Specialty pharmaceutical company Valeant Pharmaceutical International Inc (VRX,VRX.TO) Monday announced that it has agreed to acquire Eyetech Inc., a privately-owned ophthalmic biotechnology company dedicated to the treatment of sight-threatening diseases of the retina, for an upfront payment and potential future milestones that total significantly less than two times sales.

Valeant stated that the transaction, which is subject to customary closing conditions, is expected to close this week. The transaction is expected to be immediately accretive.

Eyetech currently markets Macugen in the United States, the first anti-VEGF inhibitor approved for the treatment of wet age-related macular degeneration.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Everyone knows that the Federal Reserve will raise interest rates next Wednesday at the conclusion of its two-day policy meeting. After all, Fed speakers have been jawboning a rate hike over the past few weeks. With the markets reacting with eerie calm to Donald Trump's win, policy makers have no... GOP strategist Karl Rove has criticized U.S. President-elect Donald Trump's comments on aircraft maker Boeing Co.'s contract for a new Air Force One plane, saying they were inaccurate and de-stabled the stock of a major company. Air Force One is the official air plane for the U.S. President. Elon Musk's space transport company SpaceX has lost a satellite launch order from one of its customers due to the delay in its rocket launch schedule after one of its rockets exploded in September.
comments powered by Disqus
Follow RTT