Allergan Makes an Eye-Opening Acquisition
Global pharmaceutical company Allergan (NYSE:AGN) may have just revealed its plans for the future. On Aug. 11, the company announced its plan to acquire ForSight Vision5, a privately held biotech. Allergan will pay $95 million up front and will also pay a milestone payment next year if ForSight’s innovative glaucoma treatment device makes it through the FDA gauntlet and is successfully launched. The market for glaucoma treatment is growing rapidly due to the aging global population and the rising incidence of eye disease. By 2020, glaucoma is expected to afflict more than 80 million people. In the U.S. alone, it is estimated that over 3 million people have glaucoma.
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