Alcon To Acquire Aerie Pharma In $770 Mln Deal

(RTTNews) - Alcon Inc. (ALC) agreed to Acquire Aerie Pharmaceuticals Inc. (AERI) for $15.25 per share, valuing Aerie at about $770 million.

The purchase price represented a premium of 37% to Aerie's last closing price.

AERI closed Monday regular trading at $11.15 up $0.16 or 1.46%.

The transaction is expected to be accretive to Alcon's core earnings per Share in 2024. The transaction is anticipated to close in the fourth quarter of 2022.

Alcon intends to fund the acquisition through short-term and long-term debt.

Alcon said that, through the transaction, it will add the commercial products Rocklatan (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005% and Rhopressa (netarsudil ophthalmic solution) 0.02%, as well as AR-15512, a Phase 3 product candidate for dry eye disease, and a pipeline of several clinical and preclinical ophthalmic pharmaceutical product candidates.