Aerie Pharmaceuticals Shares Rise 34% After Alcon Buyout Offer
23 Agosto 2022 - 12:42PM
Dow Jones News
By Chris Wack
Aerie Pharmaceuticals Inc. shares were up 34% to $14.91 in
premarket trading after the company said it was being bought by
Alcon AG for $15.25 a share.
The purchase price represents a premium of 37% to Aerie's last
closing price and represents an equity value of $770 million.
The transaction was approved by the board of directors of each
company.
Through the transaction, Alcon will add the commercial products
Rocklatan netarsudil and latanoprost ophthalmic solution and
Rhopressa netarsudil ophthalmic solution, as well as AR-15512, a
Phase 3 product candidate for dry eye disease, and a pipeline of
several clinical and preclinical ophthalmic pharmaceutical product
candidates.
The transaction is expected to be accretive to Alcon's core
earnings per share in 2024.
The transaction is anticipated to close in the fourth quarter of
2022. Alcon intends to fund the acquisition through short-term and
long-term debt.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
August 23, 2022 06:27 ET (10:27 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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