Sun Pharma to acquire Ocular Technologies for $40m

India-based pharmaceutical company Sun Pharma has agreed to acquire Ocular Technologies for $40 million.

Ocular Technologies is a portfolio company of Auven Therapeutics, a private equity company which focuses on therapeutic drugs.

Ocular Technologies owns exclusive rights to Seciera (cyclosporine A, 0.09% ophthalmic solution), which is in a phase-3 confirmatory clinical trial for the treatment of dry eye disease.

Dilip Shanghvi, managing director of Sun Pharma, said in a statement on October 26: “This potential acquisition signifies continued momentum in enhancing our global branded speciality portfolio.”

He added: “Coupled with our existing pipeline consisting of BromSite, DexaSite and Xelpros, this initiative will enable Sun Pharma to significantly expand its ophthalmic presence and reach millions of patients globally.”

The transaction is subject to approval by the US Federal Trade Commission and is expected to be completed by the end on 2016.