Generic drug powerhouse Viatris announced this week that it had finished its acquisitions of Oyster Point Pharma and Famy Life Sciences, officially establishing a new Viatris Eye Care Division.
Under the terms of the agreement, Viatris will pay Oyster Point and Famy approximately $415 and $280 million in cash upfront, respectively.
Founded in 2020, Famy Life Sciences is a drug development company covering different therapeutic areas including ophthalmology, oncology and dermatology.
New Jersey-based Oyster Point's main therapeutic focus is ophthalmic drugs and it snagged its first commercial product approval in 2021, for its nicotinic acetylcholine receptor (nAChR) domain expertise. The company also has a proprietary Enriched Tear Film Gene Therapy platform in development for the treatment of select ocular surface diseases.
Recently, Viatris made headlines when the Securities and Exchange Commission announced insider trading charges against its chief information officer, in a scheme that netted close to $8 million.
