- Leveraging Alcon’s robust commercial capabilities and
resources to drive further growth and access to Rocklatan and
Rhopressa
- Acquisition adds pharmaceutical research and development
capabilities and further expertise for future product
pipeline
- Expands Alcon’s presence in the $20 billion global
ophthalmic pharmaceutical category1
Alcon (SIX/NYSE: ALC), the global leader in eye care dedicated
to helping people see brilliantly, today announced that it has
completed its acquisition of Aerie Pharmaceuticals, Inc. (NASDAQ:
AERI, “Aerie”). This transaction helps bolster Alcon’s presence in
the ophthalmic pharmaceutical space with its growing portfolio of
commercial products 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 Rhopressa® to even more customers and their
patients,” said David Endicott, CEO of Alcon. “Alcon has a rich
history in the ophthalmic pharmaceutical space rooted in a deep
understanding of Eye Care Professionals. We are excited to add
Aerie’s significant technical expertise to Alcon R&D, which
enhances our efforts to build a compelling portfolio of ophthalmic
pharmaceuticals.”
Through the transaction, Alcon has added the commercial products
Rocklatan (netarsudil and latanoprost ophthalmic solution)
0.02%/0.005% and Rhopressa (netarsudil ophthalmic solution) 0.02%,
as well as AR-15512, a Phase 3 product candidate for dry eye
disease. Alcon has also acquired a pipeline of ophthalmic
pharmaceutical product candidates with the opportunity to leverage
Aerie’s existing research and development capabilities.
The transaction complements Alcon’s expansion into the
ophthalmic pharmaceutical space, including acquisitions of the
exclusive U.S. commercialization rights for Simbrinza® from
Novartis in April 2021 and Eysuvis® and Inveltys® from Kala
Pharmaceuticals, Inc. in May 2022.
Alcon intends to fully integrate Aerie into its business. As
previously disclosed, the Company has used debt to fund the
transaction for a total purchase consideration of approximately
$930 million.
J.P. Morgan acted as Alcon’s financial advisor for the
transaction, and Alcon’s legal advisor was Skadden, Arps, Slate,
Meagher & Flom LLP. Goldman Sachs & Co. LLC and Lazard
acted as Aerie’s financial advisors for the transaction, and
Aerie’s legal advisor was Fried, Frank, Harris, Shriver &
Jacobson LLP.
About Alcon
Alcon helps people see brilliantly. As the global leader in eye
care with a heritage spanning over 75 years, we offer the broadest
portfolio of products to enhance sight and improve people’s lives.
Our Surgical and Vision Care products touch the lives of more than
260 million people in over 140 countries each year living with
conditions like cataracts, glaucoma, retinal diseases and
refractive errors. Our more than 24,000 associates are enhancing
the quality of life through innovative products, partnerships with
Eye Care Professionals and programs that advance access to quality
eye care. Learn more at www.alcon.com.
References
- Ophthalmology Drugs Global Market Report 2021: COVID-19 Impact
and Recovery to 2030.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the safe harbor provisions of the US Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as “anticipate,”
“intend,” “commitment,” “look forward,” “maintain,” “plan,” “goal,”
“seek,” “target,” “assume,” “believe,” “project,” “estimate,”
“expect,” “strategy,” “future,” “likely,” “may,” “should,” “will”
and similar references to future periods. Examples of
forward-looking statements include, among others, statements we
make regarding our liquidity, revenue, gross margin, operating
margin, effective tax rate, foreign currency exchange movements,
earnings per share, our plans and decisions relating to various
capital expenditures, capital allocation priorities and other
discretionary items such as the transformation program, market
growth assumptions, our acquisition of Aerie, and generally, our
expectations concerning our future performance and the effects of
the COVID-19 pandemic on our businesses.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding 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 of our information technology systems; compliance with
data privacy, identity protection and information security laws;
our ability to comply with the US Foreign Corrupt Practices Act of
1977 and other applicable anti-corruption laws, particularly given
that we have entered into a three-year Deferred Prosecution
Agreement with the U.S. Department of Justice; our success in
completing and integrating strategic acquisitions; our ability to
execute and achieve the expected benefits of our transformation
program; anticipated tax treatment, unforeseen liabilities, future
capital expenditures, revenues, expenses, earnings, synergies,
economic performance, indebtedness, financial condition, losses,
future prospects, and business and management strategies for the
Aerie transaction; transaction costs of the Aerie transaction; the
impact of a disruption in our global supply chain or important
facilities; the effect of the COVID-19 pandemic as well as other
viral or disease outbreaks; global and regional economic,
financial, legal, tax, political and social change; Russia’s war on
Ukraine and the resulting global response; the commercial success
of our products and our ability to maintain and strengthen our
position in our markets; the success of our research and
development efforts, including our ability to innovate to compete
effectively; pricing pressure from changes in third party payor
coverage and reimbursement methodologies; ongoing industry
consolidation; our ability to properly educate and train healthcare
providers on our products; the impact of unauthorized importation
of our products from countries with lower prices to countries with
higher prices; our reliance on outsourcing key business functions;
changes in inventory levels or buying patterns of our customers;
our ability to attract and retain qualified personnel; our ability
to service our debt obligations; the need for additional financing
through the issuance of debt or equity; our ability to protect our
intellectual property; the effects of litigation, including product
liability lawsuits and governmental investigations; our ability to
comply with all laws to which we may be subject; effect of product
recalls or voluntary market withdrawals; the implementation of our
enterprise resource planning system; the accuracy of our accounting
estimates and assumptions, including pension and other
post-employment benefit plan obligations and the carrying value of
intangible assets; the ability to obtain regulatory clearance and
approval of our products as well as compliance with any
post-approval obligations, including quality control of our
manufacturing; legislative, tax and regulatory reform; the ability
of Alcon Pharmaceuticals Ltd. to comply with its investment tax
incentive agreement with the Swiss State Secretariat for Economic
Affairs in Switzerland and the Canton of Fribourg, Switzerland; our
ability to manage environmental, social and governance matters to
the satisfaction of our many stakeholders, some of which may have
competing interests; the impact of being listed on two stock
exchanges; the ability to declare and pay dividends; the different
rights afforded to our shareholders as a Swiss corporation compared
to a U.S. corporation; and the effect of maintaining or losing our
foreign private issuer status under U.S. securities laws.
Additional factors are discussed in our filings with the United
States Securities and Exchange Commission, including our Form 20-F.
Should one or more of these uncertainties or risks materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those anticipated. Therefore, you should not
rely on any of these forward-looking statements. Forward-looking
statements in this press release speak only as of the date of its
filing, and we assume no obligation to update forward-looking
statements as a result of new information, future events or
otherwise.
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Investor Relations Allen
Trang + 41 589 112 110 (Geneva) + 1 817 615 2789 (Fort Worth)
investor.relations@alcon.com
Media Relations Steven Smith
+ 41 589 112 111 (Geneva) + 1 817 551 8057 (Fort Worth)
globalmedia.relations@alcon.com
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