Al­con, No­var­tis' for­mer eye dis­ease unit, con­tin­ues deal­mak­ing spree with $770M Aerie ac­qui­si­tion

Af­ter pick­ing up two drugs from a Bob Langer spin­out in a deal ear­li­er this year, Al­con is stay­ing busy.

The for­mer No­var­tis sub­sidiary fo­cused on eye dis­eases is ac­quir­ing Aerie Phar­ma­ceu­ti­cals in a $770 mil­lion buy­out, the com­pa­nies an­nounced late Mon­day. The per share price of $15.25 rep­re­sents a 37% pre­mi­um over Aerie’s Mon­day close, and its stock shot up over 34% in the af­ter-hour pe­ri­od to ap­proach that thresh­old.

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