By Chris Wack

Aerie Prescribed drugs Inc. shares had been up 34% to $14.91 in premarket buying and selling after the corporate stated it was being purchased by Alcon AG for $15.25 a share.

The acquisition worth represents a premium of 37% to Aerie’s final closing worth and represents an fairness worth of $770 million.

The transaction was authorized by the board of administrators of every firm.

By way of the transaction, Alcon will add the business merchandise Rocklatan netarsudil and latanoprost ophthalmic answer and Rhopressa netarsudil ophthalmic answer, in addition to AR-15512, a Part three product candidate for dry eye illness, and a pipeline of a number of scientific and preclinical ophthalmic pharmaceutical product candidates.

The transaction is predicted to be accretive to Alcon’s core earnings per share in 2024.

The transaction is anticipated to shut within the fourth quarter of 2022. Alcon intends to fund the acquisition by means of 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)

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