Laboratoires Théa SAS (“Théa”), Europe’s leading independent pharmaceutical company specializing in the research, development, and commercialization of eye-care products, announced an agreement to purchase seven branded ophthalmic products from Akorn Operating Company LLC. The transaction will make Théa a best-in-class provider of products designed to fill the needs of eye-care professionals across the United States.
The purchase will add seven established brands, including Akorn’s leading glaucoma therapy, Zioptan®, to Théa’s portfolio. Théa will also welcome Akorn’s nearly 50-person sales force, which Théa expects to expand in support of anticipated growth and launches of additional products in the U.S.
“The significance of this milestone purchase can be felt across our entire organization, which has been operating for 28 years and is a driving force for treatment in eye care with products available in 75 countries,” said Théa’s President, Jean-Frédéric Chibret. “As a fifth-generation member of a family that has spent more than150 years dedicated to eye care, I’m always excited to extend Théa’s unique expertise and passion into new markets, where our goal is to improve patient quality of life by providing innovative offerings across a full range of therapeutic areas, including glaucoma, dry eye, allergy, and inflammation.”
Théa will add the following Akorn branded products to its portfolio:
- Zioptan®(tafluprost ophthalmic solution), a prostaglandin analog indicated for the reduction of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension.
- AcellFX™ (acellular amniotic membrane), which provides a protective environment or covering for repair to the ocular surface.
- Betimol®(timolol ophthalmic solution), indicated in the treatment of elevated intraocular pressure in patients with ocular hypertension or open-angle glaucoma.
- Cosopt®(dorzolamide HCl and timolol maleate ophthalmic solution), indicated for the reduction of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension that is insufficiently responsive to beta blockers.
- Cosopt® PF(dorzolamide HCl and timolol maleate ophthalmic solution), indicated for the reduction of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension that is insufficiently responsive to beta-blockers.
- AzaSite®(azithromycin ophthalmic solution), a macrolide antibiotic indicated for the treatment of bacterial conjunctivitis caused by susceptible isolates of certain microorganisms; and
- Akten®(lidocaine HCl ophthalmic gel), a local anesthetic indicated for ocular surface anesthesia during ophthalmologic procedures.
Théa is committed to developing innovative products for the U.S. market in areas of unmet need, and expects to file its first New Drug Application (NDA) with the FDA in the first quarter of 2022 for a version of the glaucoma treatment latanoprost. At the end of the first quarter of 2022, Théa also plans to launch a new line of branded OTC evidenced-based dry-eye drops and eyelid hygiene products through its partnership with Similasan Corporation. Similasan is the No. 1 global maker of eye drops with natural active ingredients and offers around 40 homeopathic remedies in the U.S.
“We are thrilled to expand our presence in the U.S. eye care community with a portfolio of products that are widely recognized and frequently used because they make a difference in patients’ lives,” said Susan Benton, Théa’s General Manager, Head of U.S. “As we introduce additional product lines and bring new innovations to market through our dedicated research and development programs, we are looking forward to engaging with stakeholders to expand our leadership presence on a global scale”.
The transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions. [Théa expects the transaction to close in Q1, 2022.]
Perella Weinberg Partners are acting as financial advisers to Théa and Weil, Gotshal & Manges LLP is acting as legal adviser to Théa.
Théa is the leading independent European pharmaceutical group in ophthalmology. Based in Clermont-Ferrand, France, it has thirty-five affiliates & offices in Europe, North and South America, North Africa, and the Middle East. Today, its network includes nearly 1,500 employees, and its products are available in 75 countries around the world. In 2021, Théa had global revenues of approximately $773 million. The independent and family-owned and run group, founded from a Research and Development start-up by Henri Chibret, has been chaired since 2008 by Jean-Frédéric Chibret, his nephew. To learn more about Théa, visit https://www.laboratoires-thea.com/
About Théa Pharma, Inc.
Established in Lexington, Massachusetts in 2019, Théa Pharma, Inc., is the United States subsidiary of Théa. Once the transaction with Akorn is completed, its products will comprise a portfolio of seven leading eye-care brands including Zioptan®, AcellFx™, Cosopt®, Cosopt® PF, Azasite®, Akten®, and Betimol®. In addition, Théa Pharma is developing a version of the glaucoma drug latanoprost, for which it will submit an NDA to the FDA in the first quarter of 2022. Also, in Q1, the company will launch a new line of branded preservative-free evidence-based OTC dry-eye drops and eyelid hygiene products through its partnership with Similasan Corporation. By focusing its parent company’s passion and expertise on the U.S. market, Théa Pharma’s goal is to deliver uncompromising care that allows all stakeholders to envision the future of ophthalmic treatment with eyes wide open. To learn more, visit https://theapharmainc.com.