Home >> Industry News >> Companies
  • Also available via:

Pfizer To Acquire Allergan PDF
Submit Your News
Tuesday, 24 November 2015

Pfizer Inc. and Allergan plc yesterday announced that their boards of directors have unanimously approved, and the companies have entered into, a definitive merger agreement under which Pfizer will combine with Allergan – Growth Pharma, in a stock transaction currently valued at US$363.63 per Allergan share, for a total enterprise value of approximately US$160 billion, based on the closing price of Pfizer common stock of US$32.18 on November 20, 2015. The transaction represents more than a 30 percent premium based on Pfizer’s and Allergan’s unaffected share prices as of October 28, 2015. Allergan shareholders will receive 11.3 shares of the combined company for each of their Allergan shares, and Pfizer stockholders will receive one share of the combined company for each of their Pfizer shares. The transaction is essentially a takeover of Allergan by Pfizer.

Under the terms of the proposed transaction, the businesses of Pfizer and Allergan will be combined under Allergan plc, which will be renamed “Pfizer plc.” The companies expect that shares of the combined company will be listed on the New York Stock Exchange and trade under the “PFE” ticker. Upon the closing of the transaction, the combined company is expected to maintain Allergan’s Irish legal domicile. Pfizer plc will have its global operational headquarters in New York and its principal executive offices in Ireland.

Pfizer’s innovative businesses will be significantly enhanced by the addition of a growing revenue stream from Allergan’s durable and innovative flagship brands in desirable therapeutic areas such as Aesthetics and Dermatology, Eye Care, Gastrointestinal, Neuroscience and Urology. The combined company will benefit from a broader innovative portfolio of leading medicines in key categories and a platform for sustainable growth with diversified payer groups. With the addition of Allergan, Pfizer will enhance its R&D capabilities in both new molecular entities and product line extensions. A combined pipeline of more than 100 mid-to-late stage programs in development and greater resources to invest in R&D and manufacturing is expected to sustain the growth of the innovative business over the long term. Through product approvals, launches and inline performance the combined company aspires to be a leader in growth.

The combination of Pfizer and Allergan will significantly increase the scale of Pfizer’s established business, and their complementary capabilities will maximize the combined established portfolio. The addition of Allergan’s Women’s Health and Anti-Infectives portfolio will add depth to Pfizer’s established business, and Pfizer will expand the reach of Allergan’s established portfolio using its existing commercial capabilities, infrastructure and global scale. In addition, Allergan brings topical formulation, manufacturing and its Anda distribution capabilities to the combined company.

As a result of the combination with Allergan and subsequent integration of the two companies, Pfizer now expects to make a decision about a potential separation of the combined company’s innovative and established businesses by no later than the end of 2018.

New Contact Lens Grading Scales Available PDF
Submit Your News
Friday, 20 November 2015

CL Grading ScalesNew Grading Scales released by Brien Holden Vision Institute, which provides optometrists with an easy to use consulting room guide for the monitoring of common contact lens complications, can be downloaded for free from the Institute’s Academy website.

The Grading Scales are used as an in-practice reference tool by optometrists and provides a guide for determining the severity and progression of complications such as bulbar redness, limbal redness and corneal staining as well as descriptions and photographs of adverse effects associated with contact lens wear. The easy to use Grading Scales also allows optometrists to make consistent clinical management decisions.

The new Grading Scales can be downloaded for free from the Institute’s education website, The Academy provides educational support to eye care personnel, optometry students and optometry schools.

Macy's and Luxottica Sign Exclusive Agreement PDF
Submit Your News
Monday, 16 November 2015

Macy'sMacy’s, Inc., one of the premier retailers in the United States, and Luxottica Group last week announced an agreement to bring the LensCrafters optical retail experience to as many as 500 Macy's department stores in the U.S. over the next three years.

The licensed department agreement builds on a successful relationship between the two companies that has resulted in the opening of approximately 670 of Luxottica’s Sunglass Hut locations within Macy’s stores to date. Together, Macy’s and Sunglass Hut have more than tripled the size of the sunglass business at Macy’s in the past six years. Using a proven model for success, LensCrafters, a leader in quality eye care, will now be the exclusive optical retailer of Macy’s and the first optical retail brand to expand nationally in a major department store. Macy’s will be the exclusive department store host of LensCrafters shops.

LensCrafters will open its first new Macy’s location in April of 2016, with the goal of opening approximately 100 locations by the end of next year. The stores will feature a new design concept created specifically for Macy’s customers, offering top fashion and luxury eyewear from brands including Ray-Ban, Oakley, Prada and Armani. Each department will be staffed by a LensCrafters affiliated optometrist, offer the industry’s most advanced eye care equipment and leverage the brand’s existing lab network to ensure the highest level of service. Macy’s 35 million customers will have access to the broadest assortment of premium frames, along with a unique in-store digital experience that includes lens simulators and virtual try-on technology.

Essilor Acquires Professional Eyecare Resource Co-Operative/Infinity Vision Alliance PDF
Submit Your News
Friday, 13 November 2015

Essilor announced this week that it has acquired a majority interest in the Professional Eyecare Resource Co-Operative (PERC) and Infinity Vision Alliance (IVA), a group purchasing organization comprised of over 2400 independent eyecare practices in the United States. The principals of PERC/IVA and Essilor have enjoyed a successful partnership for more than 25 years, and are united in their support of independent optometry through innovation, partnership and choice.

The alliance strives to achieve optimal value for its membership of more than 4000 doctors through engagement within a narrow and elite vendor channel.

“By leveraging the expertise of PERC/IVA and the resources of Essilor, we will work together to accelerate growth in the eye care industry,” said Eric Leonard, President, Essilor of America. “This partnership advances our commitment to expanding innovation in the products and services we’re able to offer eyecare professionals, further enhancing their position in the industry.”

PERC/IVA will continue to operate independently, led by their current leadership team, and its members will continue to have choice across all services and products. 

Safilo Reports Positive Results But Challenges in Asia PDF
Submit Your News
Wednesday, 11 November 2015

For the first nine months of 2015, Safilo’s net sales grew by 10.6% against the corresponding period last year at current exchange rates and by 1.0% at constant exchange rates. Q3 performance by region closely resembled the sales trends recorded over the second quarter; net sales grew by 9.0% against Q3 2014 at current exchange rates and by 0.9% at constant exchange rates, continuing to reflect robust business in Europe, North America and in the new Middle East region, and weaker performances in the more challenging market environments of Asia and Brazil.

In the first nine months gross profit increased by 6.8% and gross margin reached 60.2% of sales. In the third quarter, gross profit grew by 6.6%, while gross margin decreased to 58.8% of sales, negatively impacted by foreign exchange. In the third quarter, the planned industrial efficiencies and cost savings initiatives more markedly offset the cost inflation increases and obsolescence costs that have impacted the industrial performance in the year to date.

For the nine months to end September, the Group generated Free Cash Flow of Euro 66.8 million, taking Group Net Debt at the period end below the threshold of Euro 100 million for the first time, at Euro 97.1 million. This reflected the ongoing improvement in net working capital, the proceeds from the sale of shares held in an associate company and, as previously highlighted, the first of the three compensation payments of Euro 30 million from Kering, received in January.

Allergan Enters Into Licensing Agreement with Mimetogen for Topical Dry Eye Treatment PDF
Submit Your News
Monday, 09 November 2015

AllerganAllergan recently announced that its wholly owned subsidiary has entered into an exclusive licensing agreement with Mimetogen Pharmaceuticals, a clinical stage biotechnology company, to develop and commercialize tavilermide (MIM-D3), a topical formulation of a novel small molecule TrkA agonist for the treatment of dry eye disease.

Under the terms of the agreement, Allergan will make an upfront payment of US$50 million to Mimetogen and will fund phase 3 development of tavilermide. Mimetogen will additionally be entitled to receive potential milestone payments and royalties based on commercialization of the product.

Tavilermide is a small cyclic peptidomimetic of NGF, a naturally occurring protein in the eye responsible for the maintenance of corneal nerves and epithelium. Tavilermide is differentiated from other investigational therapies in dry eye disease because it induces the production of mucin, a naturally occurring component of the tear film, and works upstream prior to inflammation.

"Allergan is committed to leading in the development of novel therapies in eye care and dry eye disease," said David Nicholson, Executive Vice President and President, Global Brands Research and Development at Allergan. "Tavilermide brings a novel approach to treating the signs and symptoms of dry eye disease by enhancing the ocular tear film. If approved, tavilermide would provide another exciting new treatment option for patients suffering with dry eye and further strengthen our dry eye portfolio and pipeline."

"Mimetogen is excited to work together with Allergan, the recognized leader in developing effective therapies to treat dry eye disease," noted Garth Cumberlidge, PhD, Mimetogen President & CEO. "I am very proud of our Mimetogen colleagues who have worked very hard to develop tavilermide, and look forward to working with Allergan to advance this important development program for patients."

In a previously announced Phase 2 trial (Study Designation MIM-725) tavilermide demonstrated significant improvements in both signs and symptoms with 1% tavilermide versus placebo, together with strong safety, comfort and tolerability profiles. Tavilermide is currently being evaluated in two multi-center Phase 3 clinical studies in the United States for the treatment of dry eye disease.

"Dry eye disease continues to be an area where novel therapies are needed to improve the treatment of the disease, including the underlying cause of dry eye, for patients," said Rajesh K. Rajpal, MD, Medical Director and Founder, See Clearly Vision Group, Mclean, VA and Clinical Faculty, Georgetown University, Washington, DC. "Tavilermide has shown the ability to improve patient-reported blurriness and poor vision with a positive comfort and tolerability profile in recent clinical studies. This development program is encouraging for the ophthalmology community seeking new therapies to better address this important area of patient treatment." 

<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>

Page 1 of 121