Sun Pharma has completed the acquisition of the US-based eyecare specialist Ocular Technologies Sarl.
Sun Pharma acquired 100 per cent equity stake in Ocular Technologies Sarl, owned by the private equity firm Auven Therapeutics, for a front payment of $40 million.
Sun Pharma will also pay more contingent on meeting drug development and sales milestones as well as tiered royalty on sales of Seciera for the company for accelerated development of breakthrough therapeutic drugs.
Currently, Ocular is developing Seciera for treating dry eye disease, the city-based company said, adding the drug is currently in Phase-3 confirmatory clinical trials.
