FORT WORTH, TX — Eyevance Pharmaceuticals has acquired of Flarex 0.1% from Novartis AG.
Financial terms of the deal were not disclosed.
Flarex (fluorometholone acetate ophthalmic suspension), approved in the U.S., is indicated for the treatment of steroid responsive inflammatory conditions of the palpebral and bulbar conjunctiva, cornea and anterior segment of the eye, according to a press release.
“The acquisition of FLAREX escalates Eyevance’s mission to service important needs in the eye care market,” said Jerry St. Peter, CEO and director of Eyevance. “With over 9 million corticosteroids prescribed annually, at a compounded annual growth rate (CAGR) of 3.1% over the past five years, this large and invaluable therapeutic category provides Eyevance a tremendous opportunity with FLAREX. Corticosteroids are very important options for clinicians when treating ocular inflammation; FLAREX is a proven, well-accepted treatment for multiple ocular inflammatory conditions. Accordingly, it will become a valuable addition to our existing product portfolio, which includes several impactful products for conditions of the anterior segment.”
The purchase of Flarex “marks another important milestone for the Eyevance team,” according to the release. Eyevance’s portfolio consists of Zerviate cetirizine ophthalmic suspension 0.24% (licensed in September 2017 from Nicox Ophthalmics), FreshKote Preservative Free Tear Lubricant line (acquired in September 2018 from Focus Laboratories), and Nexagon (licensed in October 2018 from OcuNexus).