Merck & Co.To Divest Select Ophthalmology Products to Santen for $600 MillionBy
As part of an ongoing initiative to strengthen its commercial focus, Merck & Co. Inc. has agreed to sell select ophthalmology products to the specialty pharmaceutical company Santen Pharmaceutical Co. Ltd, based in Osaka, Japan, for $600 million and additional payments based on defined sales milestones as needed. Santen will also purchase supply of the ophthalmology products covered by this agreement from Merck for a two- to five-year period
The proposed deal includes the following products in Japan and key markets in Europe and Asia Pacific: COSOPTÂ® (dorzolamide hydrochloride â€“ timolol maleate ophthalmic solution), COSOPT PFÂ® (dorzolamide hydrochloride-timolol maleate ophthalmic solution) 2%/0.5%, TRUSOPTÂ® (dorzolamide hydrochloride ophthalmic solution) sterile ophthalmic solution 2%, TRUSOPT PFÂ® (dorzolamide hydrochloride ophthalmic solution) preservative-free, TIMOPTICÂ® (timolol maleate ophthalmic solution), TIMOPTIC PFÂ® (timolol maleate preservative free ophthalmic solution in unit dose dispenser), TIMOPTIC XEÂ® (timolol maleate ophthalmic gel forming solution), SAFLUTANÂ® (tafluprost), and TAPTIQOMÂ® (tafluprost-timolol maleate ophthalmic solution, in development) in Japan and key markets in Europe and Asia Pacific. The annual sales of these ophthalmology products in the markets within the scope of the agreement are approximately $400 million. Santen will also purchase supply of the ophthalmology products covered by this agreement from Merck for a two- to five-year period.
The agreement is subject to certain closing conditions, including obtaining antitrust clearance in Japan and other closing conditions related to specific markets or regions. The agreement is expected to close in most markets in a few months. Merck divested its US ophthalmology business to Akorn Pharmaceuticals in 2013 and 2014. Merck will continue to sell its ophthalmology products in Latin America, Canada, Australia, the Middle East, Africa and other markets.
Source: Merck & Co.