Viatris Inc. announced on November 7 that it acquired two pharmaceutical companies: Oyster Point Pharma and Famy Life Sciences. The two acquisitions have an aggregate purchase price of approximately $700 million to $750 million.
Viatris Inc. is a global pharmaceutical and healthcare corporation headquartered in Canonsburg, Pennsylvania. In 2020, it reported $11.95 billion in revenue.
Founded in 2015, Oyster Point Pharma is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases. In 2021, it reported $1.15 million in revenue.
Famy Life Sciences is a drug development platform specializing in identifying and in-licensing best-in-class, clinical-stage assets. It is based in India.
With these acquisitions, Viatris intends to create an ophthalmology business. Viatris will acquire Oyster Point for $11 per share in cash upfront through a tender offer. In addition, each Oyster Point stockholder will receive one non-tradeable contingent value right, representing up to an additional $2 per share contingent upon Oyster Point achieving certain metrics based on full-year 2022 performance.
According to the LevinPro HC database, this transaction marks the 84th Pharmaceutical acquisition of the year.
