MRK - Merck Reportedly Nearing $1.3B Acquisition Of EyeBio To Expand Eye-Care Market Presence | Benzinga
Merck & Co., Inc. (NYSE:MRK) is reportedly on the verge of acquiring EyeBio, an eye drug company, for a sum of $1.3 billion. This acquisition is expected to significantly expand Merck’s presence in the rapidly growing eye-care market.
What Happened: The deal, which could be announced as early as Wednesday, will see Merck pay $1.3 billion in cash upfront to acquire EyeBio, a privately held biotech firm. Merck could also make additional payments of up to $1.7 billion, contingent on certain milestones, reported The Wall Street Journal on Tuesday, citing people familiar with the matter.
EyeBio’s lead drug, Restoret, is currently in development to treat various eye conditions, including a form of age-related macular degeneration (AMD) that can lead to blurred vision and potential blindness. The drug has recently completed midstage testing for Wet AMD and another eye condition called ...