Ocumension Therapeutics announced on Monday that it has secured an agreement to acquire the commercialization rights for a Chinese portfolio of dry eye treatments and procedural drops from Alcon Inc. (ALC) in exchange for a 16.71 percent equity stake.
As per the agreement, the ophthalmic pharmaceutical platform will obtain full ownership of Tears Natural Forte, Bion Tears, Alcaine, Fluorescite, and Cyclogyl within the Chinese market, along with the commercialization rights for Systane Ultra and AR-15512 in China.
Following a transition period, Ocumension Therapeutics will begin manufacturing these products domestically, a move anticipated to bolster the company's market position significantly.
Currently, Alcon's stock has decreased by 0.59 percent, trading at $92.38 on the New York Stock Exchange.
