Japan-based Santen acquires US ophthalmic company Eyevance Pharmaceuticals
Santen acquisition of Eyevance : Santen Pharmaceutical, a Japanese pharma company specialized in ophthalmology, has acquired US ophthalmic company Eyevance Pharmaceuticals for $225 million in cash.
The acquisition was undertaken by the company’s fully-owned subsidiary Santen Holdings U.S.
Established only a couple of years ago, Eyevance Pharmaceuticals develops and commercializes topical ophthalmic products that target the ocular surface and anterior segment.
Currently, the US ophthalmic company offers anti-inflammatory, anti-fungal, anti-allergic, anti-infective/anti-inflammatory fixed combination, and tear lubricant products.
Shigeo Taniuchi – Santen Pharmaceutical President and CEO, commenting on Santen acquisition of Eyevance, said: “Through this purchase, we will quickly establish a business base in the U.S. and both humbly face and further contribute to the needs of a greater number of patients by offering more value. At the same time, we will accelerate global business rollout by gaining access to the U.S. and our presence in the market, aiming for even further corporate growth and contribution to ophthalmic treatments for people around the world.”
VISOVANQ – a sterile vancomycin ophthalmic ointment, and NEXAGON – an ophthalmic gel for persistent corneal epithelial defects, which were being developed by Eyevance Pharmaceuticals, were carved out of the deal with the Japanese pharma company and are excluded from the purchase.
Eyevance Pharmaceuticals co-founders Jerry St. Peter, CEO & Director, and Jason Werner, COO, commenting on Santen acquisition of Eyevance, said: “Eyevance is proud of its accomplishments over the past three years and looks forward to joining Santen, one of the leading ophthalmic companies worldwide, with its innovative R&D expertise and legacy of global success.
“We are excited to become part of Santen’s U.S. organization, to work in collaboration to further strengthen the existing commercial business. As Eyevance embarks on this new journey with Santen, we sincerely appreciate the Eyevance Team and its shareholders for their unwavering support and continuous pursuit of excellence.”