Merck To Acquire Inspire

Merck will acquire ophthalmic-focused Inspire Pharmaceuticals for approximately $430 million in cash. The transaction was unanimously approved by the boards of both companies and Inspire’s board recommended that the company’s shareholders tender their shares pursuant to the tender offer.

“Merck continues to build upon its long-term commitment to improving therapeutic options for the treatment of eye diseases,” said Beverly Lybrand, senior vice president and general manager, neuroscience and ophthalmology, Merck. “This acquisition combines the talented commercialization organization at Inspire with the excellent team already in place at Merck thereby strengthening our ophthalmology business and positioning us for future growth with an expanded portfolio. This deal helps address the needs of patients and customers in ophthalmology and creates value for both companies.”

In March, 2011, Merck announced that the NDA for Saflutan (tafluprost), an investigational preservative-free prostaglandin analogue ophthalmic solution, had been accepted for standard review by the FDA.

“As one of the world’s leading healthcare companies, Merck is the ideal partner to enhance the long-term potential of Inspire’s portfolio of ophthalmic assets. We are delighted that Merck recognized the strength of an integrated platform leveraging the growing Azasite (azithromycin ophthalmic solution) 1% product opportunity and the strong relationships within the ophthalmic community cultivated by our high quality, specialty eye care sales force in the U.S.,” said Adrian Adams, president and chief executive officer of Inspire. “Based upon an extensive analysis of various strategic options, as I have outlined since we announced the results of the TIGER-2 Phase 3 clinical trial, we believe this combination provides a compelling and timely opportunity for our shareholders to realize the value of their investment in Inspire.”