LEXINGTON, MA — Théa Pharma Inc., the U.S. subsidiary of a European pharmaceutical company specializing in eyecare products, has acquired seven branded ophthalmic products from Akorn Operating Co. LLC.
Financial terms of the deal were not disclosed.
The transaction “expands Théa’s role as an important provider of products designed to meet the needs of eye care professionals across the United States,” according to a press release.
Under the deal, Théa acquired established glaucoma therapies Zioptan, Cosopt, Cosopt PF and Betimol, along with Azasite, Akten and the ocular surface repair agent AcellFX.
“As we expand our U.S. presence, we are excited to embrace this popular portfolio of ophthalmic products that are widely recognized for the difference they make in patients’ lives,” said Susan Benton, Théa’s general manager and head of the U.S. business. “The acquisition of these products further demonstrates Théa’s commitment and mission to serve the doctors that treat anterior segment and ocular surface conditions. Our skilled and knowledgeable sales force is well positioned to increase awareness, drive growth, and expand accessibility for these widely utilized offerings.”
Based in Clermont-Ferrand, France, Théa has 35 affiliates and offices in Europe, North and South America, North Africa and the Middle East. Its network includes nearly 1,500 employees, and its products are available in 75 countries around the world. In 2021, Théa had global revenues of approximately $773 million.
“The closing of this transaction bolsters Théa’s mission to share innovative treatments across a range of therapeutic areas, including glaucoma, dry eye, allergy and inflammation,” said Théa’s president, Jean-Frédéric Chibret. “It has been a pleasure to collaborate with Akorn throughout this process to ensure that its products are seamlessly transitioned and integrated into our portfolio and the marketplace. Ultimately, this will increase doctor and patient access to these brands — and to others as our offerings grow.”
Akorn sold another group of products last year. INVISION reported in July 2021 that Prestige Consumer Healthcare Inc. was acquiring a portfolio of over-the-counter consumer brands from Akorn for $230 million in cash. The portfolio featured the TheraTears eyecare brand as well as four other brands in the VMS and and cough and cold categories.