Théa Completes its Acquisition of Akorn’s Branded Ophthalmic

mergers and acquisitions

Thea Pharma Inc. (“Théa”), the US subsidiary of Europe’s leading independent pharmaceutical company specializing in the research, development, and commercialization of eye care products, announced the completion of its previously announced acquisition of seven branded ophthalmic products from Akorn Operating Company LLC. The transactions expands Théa’s role as an important provider of products designed to meet the needs of eye care professionals across the United States.

“As we expand our US presence, we are excited to embrace this popular portfolio of ophthalmic products that are widely recognized for the difference they make in patients’ lives,” said Susan Benton, Théa’s General Manager, and head of the US business. “The acquisition of these products further demonstrates Théa’s commitment and mission to serve the doctors that treat anterior segment and ocular surface conditions. Our skilled and knowledgeable sales force is well-positioned to increase awareness, drive growth, and expand accessibility for these widely used offerings.”

Under the deal, Théa acquired seven products including established glaucoma therapies Zioptan®, Cosopt®, Cosopt® PF, Betimol®, along with Azasite®, Akten®, and the ocular surface repair agent AcellFX™. Detailed product information can be found here.

“The closing of this transaction bolsters Théa’s mission to share innovative treatments across a range of therapeutic areas, including glaucoma, dry eye, allergy and inflammation,” said Théa’s President, Jean-Frédéric Chibret. “It has been a pleasure to collaborate with Akorn throughout this process to ensure that its products are seamlessly transitioned and integrated into our portfolio and the marketplace. Ultimately, this will increase doctor and patient access to these brands — and to others, as our offerings grow.”

Thea acquired the Akorn portfolio as part of a larger commitment to developing cutting-edge products for the US market in areas of unmet need. Also this month, launch activities have begun for its evidence-based line of iVIZIA OTC products for dry eye and eyelid hygiene being distributed by Similasan Corporation, a Colorado-based company known for its natural, products for eye, ear, sinus, and cold relief. In addition, Thea filed its first New Drug Application (NDA) with the FDA for a version of the glaucoma treatment latanoprost on February 18, 2022.

During a short post-closing transition period, Akorn will provide services to Thea, with respect to business operations and management. Business will continue as usual, with Thea providing updates as needed to all key stakeholders.

About Thea

Thea is the leading independent European pharmaceutical group in ophthalmology. Based in Clermont-Ferrand, France, it has thirty-five affiliates & offices in Europe, North and South America, North Africa, and the Middle East. Today, its network includes nearly 1,500 employees, and its products are available in 75 countries around the world. In 2021, Thea had global revenues of approximately $773 million. The independent and family-owned and run group, founded from a Research and Development start-up by Henri Chibret, has been chaired since 2008 by Jean-Frédéric Chibret, his nephew. To learn more about Théa, visit https://www.laboratoires-thea.com/en

About Thea Pharma, Inc.

Established in Lexington, Massachusetts in 2019, Théa Pharma, Inc., is the United States subsidiary of Théa. Its products comprise a suite of seven leading eye-care drugs that have been approved by the US Food and Drug Administration (FDA), including Zioptan®AcellFX™, Cosopt®Cosopt® PF, Azasite®Akten®and Betimol®, as well as the portfolio of iVIZIA dry-eye drops and eyelid hygiene products distributed by the Similasan Corporation. In addition, Théa Pharma is developing a version of the glaucoma drug latanoprost, for which it submitted a New Drug Application to the FDA on Feb. 18, 2022. By focusing its parent company’s passion and expertise within the US market, Théa Pharma’s goal is to deliver uncompromising care that allows all stakeholders to envision the future of ophthalmic treatment with eyes wide open. To learn more, visit https://theapharmainc.com.

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