Akorn grabs 3 eye drop products from Merck

By VCPOST Staff Reporter

Nov 15, 2013 06:15 PM EST

Akorn Inc announced its acquisition of the US rights to three branded eye products from international pharmaceutical giant Merck. The deal was reportedly valued at USD52.8 million in cash. This was according to a report published by Business Wire.

Akorn Inc is a niche pharmaceutical firm based in Illinois. The company develops, manufactures, and markets branded pharmaceuticals, the report said.

The branded ophthalmic products involved in the transaction include AzaSite, COSOPT and COSOPT PF. Akorn also signed a two-year supply contract with Merck and a transition services contract with customary terms. Upon closing of the deal, Akorn plans to ship COSOPT and COSOPT PF immediately and to start shipping Azasite by early 2014, said the report.

The addition of the three branded products is expected to lift Akorn's reputation with physicians. This strategic deal is also expected to serve as a platform for future acquisitions of branded ophthalmic products, the report explained.

The acquisition deal is expected to increase Akorn's revenues by USD34 million to USD38 million, Business Wire reported.

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