Valeant to Acquire Eyetech

By Bizclik Editor


Valeant Pharmaceuticals announced today its agreement to acquire Eyetech, a US based ophthalmic biotechnology company. Expected to close this week, the acquisition will allow Valeant access to the knowledge Eyetech has on the treatment of sight-threatening diseases of the retina.

Eyetech is currently marketing Macugen in the US, the “first anti-VEGF inhibitor approved for the treatment of wet age-related macular degeneration.” Macugen, administered every six weeks by intravitreal injection, treats macular degeneration by binding to the vascular endothelial growth fact (VEGF). Sales of Macugen outside of the US are currently operated by Pfizer.

"This acquisition of Eyetech will fit nicely with our existing ophthalmology business, which includes a preservative free Timoptic in Ocudose and Lacrisert, products obtained through our acquisition of Aton in 2010," stated J. Michael Pearson, chairman and chief executive officer.  "The ophthalmology market has similar characteristics to the dermatology space and is a natural extension of our development capabilities.  We will continue to look for future opportunities to acquire additional products and gain important critical mass in this specialty space."



Click here to read the latest edition of Business Review Canada

The purchase price is undisclosed, but Valeant did explain that it was for an “upfront payment as well as potential future milestones that total significantly less than two times sales”.

It is clear Valeant has no plans in stopping its prescription solution growth that it has been pursuing through acquisition since 2010. Valeant has been able to become a leader in the pharmaceutical world due to its already great pharmaceutical offerings and its purchase of multiple drug companies such as iNova and Dermik. 


Featured Articles

Top 10 cybersecurity specialists in the US

As cyber attacks grow in frequency and become increasingly sophisticated, Business Chief looks at the top 10 cybersecurity specialists in the US.

Silicon Valley Bank collapse: How did we get here?

US authorities have stepped in to protect all Silicon Valley Bank customers following the second-largest bank failure in the country's history

Top 10 best new leadership books by women to read in 2023

To mark IWD, here’s our pick of the best new leadership books – all penned by impressive women at the forefront of the ever-evolving world of work

Eight of the best business leadership podcasts

Leadership & Strategy

CEO John Pagano, leading Saudi Arabia's Red Sea Global

Leadership & Strategy

Top 10 female CEOs according to Fortune’s Global 500 list

Leadership & Strategy