Alcon has agreed to acquire Aerie Pharmaceuticals for about $770 million, betting its sprawling commercial presence can boost the uptake of the biotechnology company’s two glaucoma drugs.
Alcon, the former eyecare business of Swiss pharmaceutical giant Novartis, will pay $15.25 per share for Aerie, the companies announced on Monday night. The price tag represents a 37% premium over Aerie’s last closing price of $11.15, though it’s less than the biotech’s shares were worth only a year ago.
