Valeant Pharmaceuticals Snaps Up Eye Diagnostics
Valeant Pharmaceuticals has acquired Nicox’s U.S. ophthalmic diagnostics subsidiary, Nicox Inc., in a deal worth up to $20 million, Nicox said Monday. The move will allow the French drug company to focus all of its resources on therapeutics.
Under the terms of the deal, Valeant will give Nicox $10 million in cash up front, with a potential for $10 million more if Valeant hits certain sales targets. The transaction is effective immediately. The deal also gives Valeant most of Nicox’s diagnostics-related commercial infrastructure in the U.S.
The deal is effectively immediately.
Nicox’s diagnostics portfolio includes Sjö, a panel for the early detection of Sjögren's syndrome, and the RetnaGene platform of tests for assessing a person’s risk for advanced age-related macular degeneration. RetnaGene is promoted in the U.S. via an agreement with Sequenom Laboratories. — Kellen Owings
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