Leverage Alcon’s strong commercial capabilities and resources to drive further growth and acquire Rocklatan and Rhopressa
Acquisition Adds Drug Development Capabilities and Additional Expertise for Future Product Lines
Expands Alcon’s Presence in the $20 Billion Global Ophthalmic Drug Class1
Geneva, November 22, 2022–(BUSINESS WIRE)–Regulatory News:
Alcon (NYSE: ALC ), the global eye care leader helping people see brighter, today announced that it has completed the acquisition of Aerie Pharmaceuticals, Inc. (NASDAQ: AERI, “Aerie”). The transaction helps strengthen Alcon’s presence in ophthalmic pharmaceuticals, with its growing commercial product portfolio and development pipeline.
“As we welcome the Aerie team to Alcon, we look forward to leveraging our expanding commercial footprint and expertise to bring Rocklatan® and ropsa® “For more customers and their patients,” said Alcon CEO David Endicott, who has a long history in ophthalmic pharmaceuticals rooted in a commitment to Deep understanding for eye care professionals. We are pleased to add Aerie’s significant technical expertise to Alcon’s R&D, which strengthens our efforts to build a compelling portfolio of ophthalmic medicines. “
With deal, Alcon adds commercial product Rocklatan (netarsudil Latanoprost Eye Drops) 0.02%/0.005% and ropsa (netarsudil eye drops) 0.02%, and AR-15512, a Phase 3 product candidate for dry eye disease. Alcon has also acquired a portfolio of ophthalmic drug candidates, an opportunity to leverage Aerie’s existing R&D capabilities.
The deal complements Alcon’s expansion in ophthalmic pharmaceuticals, including the acquisition of exclusive U.S. commercialization rights for Simbrinza® April 2021 from Novartis and Eysuvis® and Inveltys® From Kala Pharmaceuticals, Inc. May 2022.
Alcon intends to fully integrate Aerie into its business. As previously stated, the Company has used debt to finance the transaction, for a total purchase consideration of approximately $930 million.
J.P. Morgan acted as financial advisor to Alcon on the transaction, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Alcon. Goldman Sachs LLC and Lazard acted as financial advisors to Aerie on the transaction, and Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor to Aerie.
Alcon helps people see more clearly. As a global eye care leader with more than 75 years of history, we offer the broadest portfolio of products to enhance vision and improve people’s lives. Our surgical and vision care products impact the lives of more than 260 million people in more than 140 countries each year with conditions such as cataracts, glaucoma, retinal diseases and refractive errors. Our more than 24,000 employees are improving lives through innovative products, partnerships with eye care professionals and programs that promote access to quality eye care. For more information, please visit www.alcon.com.
Ophthalmic Drugs Global Market Report 2021: COVID-19 Impact and Recovery to 2030.
Caution Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “expects,” “intends,” “promises,” “outlook,” “maintains,” “plans,” “aims,” ”seeks,” “aims,” ”assumes,” “believes,” ” “projects,” “estimates,” “expects,” “strategy,” “future,” “could,” “could,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, Among other things, we assign priorities with respect to our liquidity, revenue, gross margin, operating margin, effective tax rate, changes in foreign exchange rates, earnings per share, our plans and decisions related to various capital expenditures, capital and other Discretionary items such as transformation plans, market growth assumptions, our acquisition of Aerie, and our expectations for future performance and the impact of the COVID-19 pandemic on our business.
Forward-looking statements are neither historical facts nor guarantees of future performance. Instead, they are based solely on our current beliefs, expectations and assumptions about the future of our business, future plans and strategies and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict, such as: cybersecurity breaches or other disruptions to our information technology systems; compliance with data privacy, identity protection and information security laws; our compliance with our capabilities under the U.S. Foreign Corrupt Practices Act of 1977 and other applicable anticorruption laws, particularly in light of our three-year deferred prosecution agreement with the U.S. Department of Justice; our success in closing and integrating strategic acquisitions; Our ability to execute and realize the anticipated benefits of our transformation plan; the anticipated tax treatment of the Aerie transaction, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, liabilities, financial condition, losses, future prospects and business and management strategies; transaction costs of Aerie transactions; the impact of disruptions to our global supply chains or critical facilities; the impact of the COVID-19 pandemic and other viral or disease outbreaks; global and regional economic, financial, legal, tax, political and social change; Russia’s war in Ukraine and the resulting global response; the commercial success of our products and our ability to maintain and strengthen our position in the marketplace; the success of our research and development efforts, including our innovative ability to compete effectively; third parties Pricing pressure from changes in payer coverage and reimbursement methods; continued industry consolidation; our ability to properly educate and train healthcare providers on our products; unauthorized transfer of our products from less expensive The impact of national imports into countries with higher prices; our reliance on outsourcing key business functions; changes in our customers’ inventory levels or buying patterns; our ability to attract and retain qualified talent; our ability to service our debt; debt or equity; our ability to protect our intellectual property rights; the impact of litigation, including product liability litigation and government investigations; our ability to comply with all laws to which we may be subject; the impact of product recalls or voluntary withdrawals from the market; enforcement of our enterprise resource planning systems; the accuracy of our accounting estimates and assumptions, including pension and other post-employment benefit plan obligations and the book value of intangible assets; the ability to obtain regulatory licenses and approvals for our products and to comply with any post-approval obligations , including quality control of our manufacturing; legislative, tax and regulatory reform; Alcon Pharmaceuticals Inc. capabilities. comply with its investment tax incentive agreement with the Swiss State Secretariat for Economic Affairs in Switzerland and the Swiss canton of Fribourg; our ability to manage environmental, social and governance matters satisfies our many stakeholders, some of whom may exist conflicts of interest; effects of listing on two stock exchanges; ability to declare and pay dividends; different rights conferred on our shareholders by a Swiss corporation compared to a U.S. corporation; maintaining or losing our foreign private issuer status under U.S. securities laws Impact.
We discuss other factors in our filings with the SEC, including our Form 20-F. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may differ materially from anticipated results. Accordingly, you should not rely on any of these forward-looking statements. Forward-looking statements in this press release speak only as of the date on which it is made, and we undertake no obligation to update forward-looking statements as a result of new information, future events or otherwise.
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