Biotech Values

[DewDiligence]

MRK sells Japanese commercial rights for ophthalmology portfolio to Santen for $600M plus future considerations:

http://www.bloomberg.com/news/2014-05-13/merck-sells-eye-products-to-santen.html

Merck & Co. agreed to sell rights for eye treatments in Japan and other markets to Santen Pharmaceutical Co. for at least $600 million as the U.S. drugmaker narrows its areas of focus to boost efficiency.

Osaka-based Santen will have rights for products including Cosopt and Timoptic eyedrops to treat glaucoma and ocular hypertension in Japan and key markets in Europe and the Asia-Pacific region… Merck may get additional payments linked to sales milestones in the future.

…Santen gains products with annual sales of about $400 million in the markets under agreement.

MRK monetized its US ophthalmology assets in a Nov 2013 deal with AKRX (#msg-94107144). Following today’s deal with Santen, MRK will continue to market ophthalmology drugs only in certain emerging markets.