Merck Sharpe and Dohme completes Inspire takeover

Merck Sharpe and Dohme has announced the completion of its takeover of Inspire Pharmaceuticals this week.

The $430 million (264.01 million pounds) transaction was originally signed in April 2011 and sees Merck take control of a specialty developer of ophthalmic medication.

By closing the deal, Inspire has been merged with Merck's wholly-owned subsidiary Monarch Transition Corp, with the Inspire name surviving as a new business unit of its parent company.

This purchase allows Merck to expand its presence in the eye disease treatment market, with Inspire's product portfolio including offerings such as the Azasite azithromycin ophthalmic solution.

In turn, this is expected to allow Inspire's ophthalmic assets to reach the widest possible range of customers.

Commenting on the deal last month, Beverly Lybrand, senior vice-president and general manager for neuroscience and ophthalmology at Merck Sharpe and Dohme, said: "This acquisition combines the talented commercialisation organisation at Inspire with the excellent team already in place at Merck."