Give me some background on Viatris.
The company was established in 2020 after the pharmaceutical manufacturing firm Upjohn—a legacy division of Pfizer—and Mylan, a generic and specialty pharmaceuticals company, merged. It operates as a global pharmaceutical and health corporation.
Why is this deal significant?
Oyster Point is the maker of Tyrvaya, the first and currently only FDA-approved nasal spray for the treatment of dry eye disease. Viatris plans to expand Tyrvaya and “build a world-class ophthalmology business.” (via)
What’s in Oyster Point’s pipeline?
The company has one investigational therapy for vernal/atopic keratoconjunctivitis and two investigational therapies for neurotrophic keratopathy, including OC-01 (varenicline solution) nasal spray. Phase 2 results for OC-01 are expected by the end of 2022.
When is the deal closing?
Viatris anticipates closing during the first quarter of 2023.
What’s the bottom line?
This acquisition gives Viatris the start of a strong foothold in the ophthalmic pharmaceutical industry.