NOV 18, 2013
Akorn has acquired the U.S. rights to three branded ophthalmic products from Merck for $52.8 million. This includes product rights obtained through the acquisition of Inspire Pharmaceuticals, Inc., a subsidiary of Merck. The products included in this transaction are AzaSite, Cosopt and Cosopt PF.
Additionally, Akorn has signed a two-year supply agreement with Merck.
"We are excited to announce this transaction which will further expand Akorn’s position as a leader in U.S. ophthalmology products," said Raj Rai, CEO of Akorn. "The addition of these branded products to Akorn’s portfolio strengthens our business and leverages our existing ophthalmic sales force and physician relationships."
The company says that this acquisition is expected to provide a platform to support future acquisitions and in-licensing of branded ophthalmic products.
The transaction is anticipated to add approximately $34 million to $38 million in revenues in 2014.