Merck Sharpe and Dohme to purchase Inspire Pharmaceuticals

Merck Sharpe and Dohme has announced plans to acquire the specialist ophthalmic treatment developer Inspire Pharmaceuticals.

The company has signed a definitive merger agreement worth $430 million (264.07 million pounds) to acquire the specialty drug manufacturer, which offers products such as the Azasite azithromycin ophthalmic solution.

According to the firm, the deal will allow Merck Sharpe and Dohme to build on its existing presence in the eye disease market, expanding its portfolio and helping it reach a wider range of customers.

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

Inspire also believes that the transaction will offer maximum value to its shareholders and can help to unlock the full long-term potential of its ophthalmic assets.

Last month, Merck Sharpe and Dohme entered into a new collaborative partnership with Lycera over the development of new autoimmune disease treatments.