CLERMONT-FERRAND, France–(BUSINESS WIRE)–Laboratoires Théa SAS (“Thea”), Europe’s leading independent pharmaceutical company specializing in the research, development and marketing of eye care products, today announced an agreement to purchase seven ophthalmic products trademark of Akorn Operating Company LLC. The transaction will make Théa a leading provider of products designed to meet the needs of eyecare professionals across the United States.
The purchase will add seven established brands, including Zioptan, Akorn’s leading glaucoma treatment.®, in Théa’s portfolio. Théa will also welcome Akorn’s nearly 50-person sales force, which Théa plans to expand to support anticipated growth and additional product launches in the United States.
“The importance of this milestone purchase is felt throughout our organization, which has been in existence for 28 years and is a driving force for ophthalmology treatment with products available in 75 countries,” said Jean-Frédéric. Chibret, president of Théa. “As the fifth generation of a family that has been dedicated to eye care for over 150 years, I am always excited to expand Théa’s unique expertise and passion into new markets, where our focus is to improve the quality of life of patients by providing them with innovative offers in a full range of therapeutic areas, including glaucoma, dry eye, allergies and inflammation.
Théa will add the following Akorn branded products to its portfolio:
- Zioptan® (tafluprost ophthalmic solution), a prostaglandin analogue 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 cover for ocular surface repair.
- Betimol® (timolol ophthalmic solution), indicated for the treatment of elevated intraocular pressure in patients with ocular hypertension or open-angle glaucoma.
- co-opt® (dorzolamide hydrochloride and timolol maleate ophthalmic solution), indicated for the reduction of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension that is unresponsive to beta-blockers.
- co-opt® PF (dorzolamide hydrochloride and timolol maleate ophthalmic solution), indicated for the reduction of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension that is unresponsive 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
- Acten® (lidocaine HCl ophthalmic gel), a local anesthetic indicated for anesthesia of the ocular surface during ophthalmic procedures.
Théa is committed to developing innovative products for the US market in areas of unmet need and plans to file its first New Drug Application (NDA) with the FDA in Q1 2022 for a version of the treatment. latanoprost glaucoma. At the end of the first quarter of 2022, Théa also plans to launch a new line of OTC evidence-based dry eye drops and eyelid hygiene products through its partnership with Similasan Corporation. Similasan is the world’s leading manufacturer of eye drops with natural active ingredients and offers approximately 40 homeopathic remedies in the United States.
“We are excited to expand our presence in the US eye care community with a portfolio of widely recognized and frequently used products that make a difference in the lives of patients,” said Susan Benton, Thea’s Chief Executive Officer, Head of United States. we are introducing additional product lines and bringing new innovations to market through our dedicated research and development programs, we look forward to engaging with stakeholders to expand our leadership presence globally.
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 is acting as financial advisor to Théa and Weil, Gotshal & Manges LLP is acting as legal advisor to Théa.
Théa is the leading independent European pharmaceutical group in ophthalmology. Based in Clermont-Ferrand, France, it has thirty-five subsidiaries and offices in Europe, North and South America, North Africa and the Middle East. Today, its network has nearly 1,500 employees and its products are available in 75 countries around the world. In 2021, Théa achieved worldwide revenue of approximately $773 million. The independent and family group, founded from a Research and Development start-up by Henri Chibret, has been chaired since 2008 by Jean-Frédéric Chibret, his nephew. To find out more about Théa, go to https://www.laboratoires-thea.com/fr
About Thea Pharma, Inc.
Established in Lexington, Massachusetts in 2019, Théa Pharma, Inc., is the US subsidiary of Théa. Upon completion of the transaction with Akorn, its products will include a portfolio of seven leading eye care brands, including Zioptan®, AcellFx™, Cosopt®, co-opt® PF, Azasite®, Akten®, and Betimol®. Additionally, Théa Pharma is developing a version of the glaucoma drug latanoprost, for which it will submit an NDA to the FDA in Q1 2022. Additionally, in Q1, the company will launch a new line of preservative-free branded drugs. certified OTC based dry eye drops and eyelid hygiene products through its partnership with Similasan Corporation. By focusing the passion and expertise of its parent company on the American market, Théa Pharma’s goal is to offer uncompromising care that allows all stakeholders to envision the future of ophthalmic treatment with their eyes. wide open. To learn more, visit https://theapharmainc.com.