FORT WORTH, Texas, Oct. 24, 2018 /PRNewswire/ -- Eyevance Pharmaceuticals, a Fort Worth-based pharmaceutical company committed to developing and commercializing innovative and impactful ophthalmic products, today announced the acquisition of FLAREX® (fluorometholone acetate ophthalmic suspension) 0.1% from Novartis AG.
FLAREX®, approved in the United States, is indicated for the treatment of steroid responsive inflammatory conditions of the palpebral and bulbar conjunctiva, cornea, and anterior segment of the eye.
"The acquisition of FLAREX® escalates Eyevance's mission to service important needs in the eye care market," said Jerry St. Peter, Chief Executive Officer and Director, Eyevance. "With over nine million corticosteroids prescribed annually, at a compounded annual growth rate (CAGR) of 3.1% over the past five years1, this large and invaluable therapeutic category provides Eyevance a tremendous opportunity with FLAREX®. Corticosteroids are very important options for clinicians when treating ocular inflammation; FLAREX® is a proven, well-accepted treatment for multiple ocular inflammatory conditions. Accordingly, it will become a valuable addition to our existing product portfolio, which includes several impactful products for conditions of the anterior segment."
"As a Cornea, Cataract and LASIK Specialist, the need for topical corticosteroids is critical within my patient population," commented Neda Shamie, MD at Maloney - Shamie Vision Institute, Los Angeles, California. "It is exciting to see Eyevance acquire FLAREX®, as its broad label and indication to treat many anterior segment and ocular surface inflammatory conditions is a needed and welcomed addition in my therapeutic armamentarium."
The purchase of FLAREX® marks another important milestone for the Eyevance team, who recently acquired exclusive rights to several ophthalmic products and product candidates in the United States and/or globally. Eyevance's growing portfolio consists of ZERVIATE™ cetirizine ophthalmic suspension 0.24%, (acquired in September 2017 from Nicox Ophthalmics), FRESHKOTE® Preservative Free Tear Lubricant line (acquired in September 2018 from Focus Laboratories), and NEXAGON® (acquired in October 2018 from OcuNexus).
As part of the Company's commercial strategy, Eyevance will be attending the upcoming American Academy of Ophthalmology (AAO) annual meeting in Chicago, Illinois from October 27-30, 2018 and the American Academy of Optometry (AAOpt) annual meeting in San Antonio, Texas from November 7-10, 2018. Interested eye care practitioners are welcome to visit Eyevance at AAO Booth #2869 or AAOpt Booth #1020 to learn more.
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About Eyevance Pharmaceuticals
Eyevance Pharmaceuticals is a Fort Worth-based company committed to developing and commercializing innovative and impactful ophthalmic products that enable optimal vision and better quality of life for all patients. Eyevance seeks to establish a portfolio of products that address significant unmet needs, including rare and orphan conditions, while also focusing on products with a legacy of proven safety and efficacy. For more information, visit http://eyevance.com.
Novartis is reimagining medicine to improve and extend people's lives. As a leading global medicines company, we use innovative science and digital technologies to create transformative treatments in areas of great medical need. In our quest to find new medicines, we consistently rank among the world's top companies investing in research and development. Novartis products reach nearly 1 billion people globally and we are finding innovative ways to expand access to our latest treatments. About 125,000 people of more than 140 nationalities work at Novartis around the world. Find out more at www.novartis.com.
Burke, Warren, McKay and Serritella, P.C. and Greenblum & Bernstein, PLC are acting as legal advisors to Eyevance.
For additional information, please contact:
Mark C Jasek, PhD
Chief Scientific Officer, Eyevance
firstname.lastname@example.org | 817.677.6127
SOURCE Eyevance Pharmaceuticals