Finding The Fit For Ophthalmology In The New Pfizer
The merger of Pfizer and Allergan might raise broader questions about the fairness – or long-term viability – of the corporate tax code in the US. But it also has generated some angst over Allergan’s future as a stalwart in ophthalmology.
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There were 225 medtech M&A deals in 2015, down from 269 in 2014, according to Clinica's M&A Tracker. The in vitro diagnostics sector continues to be the most popular for transactions.
The breakup fee for the Pfizer/Allergan merger would be $3.5bn in certain instances, but much lower, just $400m in expense reimbursement, if a party decides to terminate the deal due to an adverse change in law.
Minimally invasive technologies are finding their way into the suites of ophthalmology surgeons. Just over the past six months, Allergan has acquired two pre-commercial medtech companies developing miniature implants to treat glaucoma and dry eye disease. Meanwhile, Glaukos, a leader in the micro-invasive glaucoma surgery market, remains one of the more successful medtech IPOs.