Eye care products maker Alcon has agreed to acquire Aerie Pharmaceuticals for $15.25 per share, a valuation of $770 million.
The transaction will add eye drops Rocklatan, Rhopressa and AR-15512 to Alcon's portfolio, according to an Aug. 22 news release from the two companies.
The transaction will close in the fourth quarter of 2022, as long as Aerie's stockholders approve.
"Alcon is passionate about innovative treatments in eye care, especially in core disorders such as glaucoma and dry eye, which have significant patient impact," David Endicott, CEO of Alcon, said in the news release. "We have a 75-year history focused specifically on the eye and bring established expertise in development and commercial execution. Aerie is a natural fit with on-market and pipeline products, and R&D capabilities that offer the infrastructure needed to expand our ophthalmic pharmaceutical presence."