Viatris Inc, the US healthcare company formerly known as Mylan Laboratories, aims to add $1 billion by 2028 as global sales after its recent acquisitions in ophthalmology (eye care).
In India, the company acquired the ophthalmology business of Taparia family-backed Famy Life Sciences for $300 million (around Rs 2500 crore). Viatris will develop a handful of under-development products under phase 3 clinical trials.
These products are in the areas associated with dry eye disease, Blepharitis (inflammation of the eyelids), Presbyopia (gradual loss of eyes’ ability to focus on nearby objects), Viatris said in an investor presentation.
Viatris may acquire Oyster Point Pharma which markets a novel dry eyes product in the US ALL. Together, the particular two deals are worth between $700 million and $750 million.
The company said in a statement it expects the new acquisitions will help top line growth and also add at least $500 thousand in adjusted Ebitda by 2028. Tyrvaya, a nasal spray to treat dry eyes, got USFDA approval inside October 2021.
“With the combination of Viatris’ worldwide commercial footprint, R& D and regulatory capabilities and supply chain, along with Oyster Point’s deep knowledge of the ophthalmology space from a clinical, medical, regulatory plus commercial perspective—including a commercial asset, Tyrvaya, for the treatment of dry eye disease— and Famy Life Sciences’ Phase III-ready pipeline, the particular company believes it has the foundation to create a leading global ophthalmology franchise, accelerating efforts to address the unmet needs of patients with ophthalmic disease and the vision care professionals who treat them, ” it stated
“These acquisitions bring us an innovative growth asset, Tyrvaya, plus five additional Phase III or Phase III-ready programs that give us the significant head-start in creating a leading ophthalmology franchise, ” said Michael Goettler, chief executive officer of Viatris.
The ophthalmology business will function as a separate division within the particular company and will be led simply by current Oyster Point CEO, Jeff Nau Ph. D., upon the closing of the transaction.
Viatris sold its biosimilars business to Biocon Biologics, and now it plans to focus on ophthalmology. Viatris was formed in late 2020 through the merger associated with Mylan plus Pfizer’s Upjohn unit.