OYST - Viatris to acquire Oyster Point Pharma for $11/share in cash
- Oyster Point Pharma ( NASDAQ: OYST ), a company focused on eye disorders, announced Monday that Viatris ( NASDAQ: VTRS ) agreed to acquire it for $11.00 per share in cash plus a contingent value right (CVR).
- The company said that its shareholders owning about 46% of the common stock, have agreed to tender their shares in support of the deal, which is expected to close in Q1 2023.
- The CVR entitles Oyster ( OYST ) stockholders to receive a potential per share cash payment of up to $2.00, subject to the achievement of certain commercial milestones related to the company’s FDA-approved eye disease therapy, Tyrvaya.
- Oyster ( OYST ) shares are currently on hold for trading. Viatris ( VTRS ) has added ~2% after the company announced its Q3 2022 financials.
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Viatris to acquire Oyster Point Pharma for $11/share in cash