Pharmos, Bausch & Lomb Inc. deal

PARS sold its loteprednol etabonate (LE) ophthalmic business to BOL. BOL paid $25 million in cash for PARS’s Lotemax and Alrex, which BOL already markets under a 1995 deal, and BOL is acquiring future LE formulations for about $14 million. PARS said the total deal value could reach $49 million if additional milestones are met. PARS said it would use the funds in its CNS and inflammation pipelines, including an ongoing Phase III trial of its dexanabinol in traumatic brain injury. ...