Valeant Pharma (VRX) Buys Eyetech
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Valeant Pharmaceuticals International, Inc. (NYSE: VRX) announced today that Valeant has agreed to acquire Eyetech Inc., a privately-owned ophthalmic biotechnology company dedicated to the treatment of sight-threatening diseases of the retina, for an upfront payment and potential future milestones that total significantly less than two times sales.
Eyetech currently markets Macugen® in the United States, the first anti-VEGF inhibitor approved for the treatment of wet age-related macular degeneration (AMD).
The transaction is expected to be immediately accretive. The transaction, which is subject to customary closing conditions, is expected to close this week.
Eyetech currently markets Macugen® in the United States, the first anti-VEGF inhibitor approved for the treatment of wet age-related macular degeneration (AMD).
The transaction is expected to be immediately accretive. The transaction, which is subject to customary closing conditions, is expected to close this week.
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