Allergan announces takeover of ForSight VISION5

Allergan has agreed a deal to purchase ForSight VISION5 for an upfront fee of $95 million (73.38 million pounds).

The clinical-stage biotechnology company is focused on eye care and has been purchased by Allergan due to its interest in the firm's lead development programme, a peri-ocular ring designed for extended drug delivery and reducing elevated intraocular pressure (IOP) in glaucoma patients.

It is designed to be inserted by an ophthalmologist or optometrist and rests on the surface of the eye under the eyelids, releasing medication over multiple months to lower elevated IOP among those affected by glaucoma and ocular hypertension.

Clinical trial data has shown that a single administration of the ring can provide sustained reduction in IOP for six months, approximately 90 percent of subjects retaining inserts in both eyes for half a year without clinician assistance.

Brent Saunders, chief executive officer and president of Allergan, said: "The acquisition of this ring technology demonstrates our commitment to advancing products that can profoundly change the way patients receive treatment."

The company reported strong growth and net revenues of $3.7 billion for the second quarter of 2016 earlier this week.

With over 20 years of experience within the pharmaceutical market, we at Zenopa have the knowledge, skills and expertise to help find the right job for you. To find out more about the current pharmaceutical roles we have available, you can search for the latest job roles, register your details, or contact the team today.