LifeTech Capital Comments On Merck Acquisition (MRK, ISPH)

On April 5, 2010, Merck MRK announced that they are acquiring Inspire Pharmaceuticals ISPH for approximately $430 million, LifeTech Capital reports. “Merck stated goal is to strengthen their ophthalmic portfolio with Inspire's AZASITE (azithromycin ophthalmic solution) for the treatment of bacterial conjunctivitis, ELESTAT (epinastine HCl ophthalmic solution) for the prevention of ocular itching associated with allergic conjunctivitis and their royalties on sales of Allergan's AGN dry-eye drug Restasis,” LifeTech Capital writes. “We believe Merck's acquisition is in response to Novartis NVS pending acquisition of Novabay's ocular partner, Alcon ACL.”