Merck Reportedly Nearing $1.3B Acquisition Of EyeBio To Expand Eye-Care Market Presence
Portfolio Pulse from Benzinga Neuro
Merck & Co., Inc. (NYSE:MRK) is reportedly nearing a $1.3 billion acquisition of EyeBio to expand its presence in the eye-care market. The acquisition includes an upfront payment of $1.3 billion and potential additional payments of up to $1.7 billion based on milestones. EyeBio's lead drug, Restoret, is in development for treating age-related macular degeneration (AMD) and diabetic macular edema. This move is part of Merck's strategy to diversify its portfolio beyond its top-selling drug, Keytruda, which will lose patent protection in 2028.
May 29, 2024 | 8:36 am
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Merck's acquisition of EyeBio for $1.3 billion aims to expand its presence in the eye-care market and diversify its portfolio beyond Keytruda. This strategic move could provide new revenue streams as Keytruda's patent protection ends in 2028.
The acquisition of EyeBio is a strategic move for Merck to diversify its portfolio and reduce dependence on Keytruda, which will lose patent protection in 2028. The eye-care market is growing, and EyeBio's lead drug, Restoret, has potential in treating AMD and diabetic macular edema. This could positively impact Merck's revenue streams in the short term.
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