Breaking Bausch Health News: Company Announces Major Acquisition
Bausch Health Companies Inc, a Canada-based pharmaceutical company, made a major announcement recently. The company disclosed that it has completed the acquisition of all the outstanding shares of Allegro Ophthalmics, a US-based clinical-stage ophthalmology company. The acquisition is a significant move for Bausch Health and will push its pipeline strategy towards the growing ophthalmology market.
The Acquisition
As part of the acquisition, Bausch Health Companies will gain full rights to Allegro’s lead investigational product, Risuteganib, which is a novel integrin-regulating therapy for the treatment of intermediate dry age-related macular degeneration (dry AMD), geographic atrophy (GA), and diabetic macular edema (DME). Furthermore, the acquisition will help Bausch Health to expand its platform of ophthalmology projects and strengthen its vision subsidiary, Bausch + Lomb.
The Market Demand
Ophthalmology is an attractive market due to the rising incidence of age-related eye diseases, coupled with the high regulatory hurdles that exist in the market. According to estimates, dry AMD affects around 170 million patients globally, and the number is expected to grow to 196 million by 2020. It is a leading cause of blindness worldwide and accounts for approximately 10% of global blindness. With no approved treatments available for GA, the market potential for Risuteganib is promising.
What Does This Mean for Bausch Health?
The acquisition marks Bausch Health’s second acquisition in the ophthalmology space, with the first being the acquisition of Synergetics USA Inc. in 2020, which specializes in surgical instrumentation for cataract and vitreoretinal surgery. With the recent acquisition of Allegro, Bausch Health will move closer to achieving its goal of becoming a leading ophthalmology company.
Bausch Health CEO, Joseph C. Papa said in a statement, “This acquisition is expected to complement our existing pipeline and bolster our efforts to develop innovative treatments for retinal diseases that may have a significant impact on patients’ lives. We are excited about the potential clinical benefits that Risuteganib could offer to those with intermediate dry AMD, GA, and DME.”
In Summary
The acquisition of Allegro Ophthalmics by Bausch Health Companies is a significant move towards expanding its ophthalmology pipeline strategy. The acquisition will allow Bausch to strengthen its vision subsidiary, Bausch + Lomb, and gain access to Allegro’s novel integrin-regulating therapy for the treatment of intermediate dry age-related macular degeneration (dry AMD), geographic atrophy (GA), and diabetic macular edema (DME). Ophthalmology is an attractive market with high regulatory hurdles, and the acquisition will help Bausch Health to achieve its goal of becoming a leading ophthalmology company.
