AERI - Alcon to acquire Aerie Pharmaceuticals at ~$770M enhancing its ophthalmic pharmaceutical portfolio

• Alcon ( NYSE: ALC ) to acquire Aerie Pharmaceuticals ( NASDAQ: AERI ) in a deal that values Aerie at ~$770M.
• The purchase price of $15.25/share represents a premium of 37% to Aerie’s last closing price and represents an equity value of ~$770M.
• The move builds on Alcon’s existing commercial expertise in the estimated $20B global ophthalmic pharmaceutical segment.
• Through the addition, Alcon will add Rocklatan ^® and Rhopressa ^® , and a pipeline of several clinical and preclinical ophthalmic pharmaceutical product candidates.
• Rocklatan ^® is a fixed dose combination of the Rho kinase inhibitor, netarsudil, and a prostaglandin F2? analogue, latanoprost, indicated for the reduction of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension.
• Rhopressa ^® is a Rho kinase inhibitor indicated for the reduction of elevated IOP in patients with open-angle glaucoma or ocular hypertension. In most markets outside the U.S., commercialization rights for both products have been licensed to Santen SA and its affiliates.
• The transaction is expected to be accretive to Alcon’s core diluted EPS in 2024.
• The transaction was approved by the board of each company.
• The deal is anticipated to close in the fourth quarter of 2022.
• Alcon intends to fund the acquisition through short-term and long-term debt.
• Separately, Aerie’s most recent financial guidance for total glaucoma franchise net product revenue is $130M-140M for full year 2022.

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