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Allergan Takes Over RetroSense; Boosts Eye Care Pipeline
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Allergan plc has acquired RetroSense Therapeutics, a privately held, clinical-stage biotechnology company, which will add the latter’s lead gene therapy development program RST-001 to its eye care pipeline.
RST-001 is being developed for the treatment of the eye disease, retinitis pigmentosa (RP). The candidate, presently in phase I/IIa trials, also enjoys an orphan drug designation by FDA.
Substantially all of the assets of RetroSense were acquired by Allergan for an upfront payment of $60 million as well as future regulatory and commercialization milestone payments related to RST-001.
Retinitis pigmentosa is a group of rare inherited genetic disorders, which can lead to central vision loss and blindness in many cases. According to information provided by Allergan in its press release, approximately 100,000 people in the U.S. have the disorder, creating a significant need for new treatment options.
RST-001 is first-in-class gene therapy application of optogenetics, a therapeutic approach which can be a breakthrough treatment option across a host of retinal conditions, including RP. Allergan management feels this potentially revolutionary technology can be highly complementary to its innovative eye care development programs.
Acquisitions form an integral part of Allergan’s expansion strategy as the company completed four major acquisitions (Arrow, Specifar, Actavis Group and Warner Chilcott) apart from the Forest and Allergan Inc. deals in the past few years.
Last month, Allergan announced that it will acquire ForSight VISION5 for an upfront payment of $95 million as well as launch milestone payments related to ForSight's lead development program.With this acquisition, slated to close in 60 days, Allergan will add ForSight's lead development program, a peri-ocular ring designed for extended drug delivery and reducing elevated intraocular pressure (IOP) in glaucoma patients, to its pipeline.
Zacks Rank and Stocks to Consider
Allergan, one of the largest and fastest growing drugmakers, has a Zacks Rank #3 (Hold).Some better-ranked stocks in the healthcare sector include Amphastar Pharmaceuticals, Inc. (AMPH - Free Report) , AxoGen, Inc. (AXGN - Free Report) and Mallinckrodt Public Limited Company . While Amphastar Pharmaceuticals has a Zacks Rank #1 (Strong Buy), AxoGen and Mallinckrodt have a Zacks Rank #2 (Buy).
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Allergan Takes Over RetroSense; Boosts Eye Care Pipeline
Allergan plc has acquired RetroSense Therapeutics, a privately held, clinical-stage biotechnology company, which will add the latter’s lead gene therapy development program RST-001 to its eye care pipeline.
RST-001 is being developed for the treatment of the eye disease, retinitis pigmentosa (RP). The candidate, presently in phase I/IIa trials, also enjoys an orphan drug designation by FDA.
Substantially all of the assets of RetroSense were acquired by Allergan for an upfront payment of $60 million as well as future regulatory and commercialization milestone payments related to RST-001.
ALLERGAN PLC Price
ALLERGAN PLC Price | ALLERGAN PLC Quote
Retinitis pigmentosa is a group of rare inherited genetic disorders, which can lead to central vision loss and blindness in many cases. According to information provided by Allergan in its press release, approximately 100,000 people in the U.S. have the disorder, creating a significant need for new treatment options.
RST-001 is first-in-class gene therapy application of optogenetics, a therapeutic approach which can be a breakthrough treatment option across a host of retinal conditions, including RP. Allergan management feels this potentially revolutionary technology can be highly complementary to its innovative eye care development programs.
Acquisitions form an integral part of Allergan’s expansion strategy as the company completed four major acquisitions (Arrow, Specifar, Actavis Group and Warner Chilcott) apart from the Forest and Allergan Inc. deals in the past few years.
Last month, Allergan announced that it will acquire ForSight VISION5 for an upfront payment of $95 million as well as launch milestone payments related to ForSight's lead development program.With this acquisition, slated to close in 60 days, Allergan will add ForSight's lead development program, a peri-ocular ring designed for extended drug delivery and reducing elevated intraocular pressure (IOP) in glaucoma patients, to its pipeline.
Zacks Rank and Stocks to Consider
Allergan, one of the largest and fastest growing drugmakers, has a Zacks Rank #3 (Hold).Some better-ranked stocks in the healthcare sector include Amphastar Pharmaceuticals, Inc. (AMPH - Free Report) , AxoGen, Inc. (AXGN - Free Report) and Mallinckrodt Public Limited Company . While Amphastar Pharmaceuticals has a Zacks Rank #1 (Strong Buy), AxoGen and Mallinckrodt have a Zacks Rank #2 (Buy).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>