Daily Management Review

Merck to pay up to $3 bln for pharma company EyeBio


American pharmaceutical company Merck & Co. has entered into an agreement to acquire EyeBio, a startup that develops medications for treating eye disorders, reports the Financial Times referring to a statement made by David Guyer, the head of EyeBio.

Ian Rainey
Ian Rainey
Merck has agreed to pay $1.7 billion contingent upon meeting specific requirements, and an additional $1.3 billion upfront.

EyeBio, founded in 2021, is known for developing Restoret, a medication that can be used to treat diabetic macular edema and age-related macular degeneration—two of the leading causes of blindness in Western nations.

Merck plans to counteract the predicted decline in revenue when the patent on Keytruda (pembrolizumab) expires in 2029 by aggressively acquiring smaller pharmaceutical companies. Sales of Keytruda are expected to reach $33 billion a year in 2028.

source: ft.com