Allergan to buy ForSight VISION5

Dublin-based pharmaceutical company Allergan has agreed to buy eye care company ForSight VISION5 for $95m.

Under the terms of the agreement, there is also a launch milestone payment related to ForSight’s lead development programme, which is a peri-ocular ring designed for extended drug delivery and reducing elevated intraocular pressure (IOP) in glaucoma patients.

Allergan’s chief executive officer and president Brent Saunders said: “The acquisition of ForSight and its ocular ring technology builds on Allergan's rich history and deep commitment to eye care innovation.

“Allergan has been a leader in the development and introduction of novel treatments for underserved eye conditions, including glaucoma, chronic dry eye disease and other ocular conditions. The acquisition of this ring technology demonstrates our commitment to advancing products that can profoundly change the way patients receive treatment – through innovation that helps address non-compliance, increases adherence and improves tolerability."

In 2010, 60.5m people globally were living with glaucoma and the number may increase to nearly 80m by 2020.

The deal is expected to be completed within 60 days.