Beyond Restasis: Allergan buys Oculeve dry eye device
This article was originally published in Scrip
Allergan, whose blockbuster Restasis (cyclosporine) is the only approved prescription dry eye drug in the US, is buying the device maker Oculeve for $125m to diversify the company's position in the market.
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Spun out from Oculeve in tandem with that company’s acquisition by Allergan, Oyster Point hopes to develop a nasal spray that can address the underlying cause of dry eye. It has two candidates on parallel courses in Phase II with a goal of choosing one to advance into Phase III.
Allergan is building a diverse ophthalmology portfolio with a pipeline of drugs, devices and procedures that could bolster the company’s eye care revenue beyond Restasis and glaucoma medicines.