BioCentury
ARTICLE | Company News

Eupharmed, Nicox deal

December 9, 2013 8:00 AM UTC

Nicox acquired ophthalmic company Eupharmed for €3.5 million ($4.7 million) in newly issued Nicox shares. The number of shares will be based on Nicox's average closing price during the 90-day period preceding the completion of the acquisition. Nicox expects the deal to close "within the coming weeks." Eupharmed shareholders are also eligible to receive up to €2.4 million ($3.2 million) in newly issued Nicox shares in 1H14 upon achievement of certain undisclosed business objectives. Nicox said the acquisition provides the company with an established sales and marketing platform in Italy. Eupharmed markets eye care products, including artificial tears Theradrop and Theragel and antibiotic Eukinoft. Eupharmed expects to achieve 2013 sales of about €3.9 million ($5.3 million). ...