QuickView: Sights firmly set on US ophthalmic business
The acquisition of Aciex in the US (for $65m in shares upfront plus up to $55m in contingent value rights), pending shareholder approval at the EGM on 22 October, represents a significant move in Nicox's strategy to transform into an international ophthalmic player. Recent positive Phase III data for VESNEO should allow filing in Q215 and a 2016 entry into the $2bn US glaucoma market. Revenue growth from newly acquired products and pipeline newsflow could provide upside in the next six to 12 months.Nicox is engaged in the ophthalmic market. Co. markets several ophthalmic products in the United States and Europe with a portfolio of therapies and diagnostic tools that can help people to enhance their sight. Co. has developed naproxcinod, the first member of the Cyclooxygenase-Inhibiting Nitric Oxide-Donating (CINOD) class of anti-inflammatory agents, for the treatment of the signs and symptoms of osteoarthritis. Beyond naproxcinod, Co. has a pipeline containing multiple nitric oxide-donating NCEs, which are in clinical development with partners for the treatment of diseases, such as hypertension, glaucoma and Chronic Obstructive Pulmonary Disease (COPD).
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