Alcon, Inc. (ACL) recently announced that it has acquired rights to two topical eye care products, Durezol and Zyclorin, from Sirion Therapeutics, Inc. Alcon also said that it is evaluating options to acquire another product, Zirgan, which is approved for the treatment of acute herpetic keratitis or corneal ulcers.
While Durezol is approved by the US Food and Drug Administration (FDA), Zyclorin is being developed for the treatment of dry eye and other ocular surface diseases. Alcon has rights for Zyclorin in all territories excluding Latin America.
Alcon said that it will take charge of all marketing, promotion and sales of Durezol in the United States immediately. Durezol is approved for the treatment of inflammation and pain associated with eye surgery.
This agreement is in-line with the company’s goal to expand its product portfolio and pipeline. Although detailed information regarding the financial terms of the deal was not available, we are pleased to see the company’s commitment towards building its pipeline through in-licensing deals and acquisitions. The agreement with Sirion is the latest in a series of deals executed by Alcon to strengthen its pipeline.
In Dec 2009, Alcon announced its plans to acquire Optonol, Ltd., a privately-held medical device company. In late Oct 2009, Alcon entered into an in-licensing agreement with Potentia Pharmaceuticals for the development of medicines for the treatment of age-related macular degeneration (AMD). In Sep 2009, the company announced the acquisition of Swiss biotech company ESBATech AG.
In July 2009, Alcon entered into a five-year collaborative research agreement with AstraZeneca (AZN) for the exclusive ophthalmic discovery and potential development rights to AstraZeneca’s compound library. Alcon also entered into a research and licensing agreement with PhiloGene Inc. for rights to a vascular endothelial growth factor (VEGF) protein, which will be developed for the treatment of wet AMD and diabetic macular edema. All these transactions should allow Alcon to strengthen its ophthalmic product pipeline.
We currently have a Neutral recommendation on Alcon. The company’s primary competitor in the ophthalmology market is Allergan, Inc. (AGN).
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