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AMO sells six OTC products to Inyx
Advanced Medical Optics Inc. (AMO) sold six over-the-counter eye-care products to Inyx Inc., which will assign all of the business and marketing rights to its wholly owned marketing subsidiary, Exaeris Inc.
Advanced Medical Optics Inc. (AMO) sold six over-the-counter eye-care products to Inyx Inc., which will assign all of the business and marketing rights to its wholly owned marketing subsidiary, Exaeris Inc.
The products include:
• Lens Plus Aerosol, a preservative-free, sterile saline solution that is marketed in the United States, Canada, Europe/Middle East, and Asia-Pacific;
• Lens Plus Rewetter Drops, a preservative-free, sterile saline solution that is marketed in the United States;
• Lens Plus Daily Cleaner, a sterile, gentle cleaner for soft contact lenses that is marketed in the United States;
• LC-65 Daily Contact Lens Cleaner, a sterile gentle cleaner for gas permeable, hard, and soft contact lenses that is marketed in the United States, Europe/Middle East, and Asia-Pacific;
• Hydrocare Fizzy Tablets, an effervescent, enzymatic cleaner in tablet form that is marketed in the United States, Europe/Middle East, and Asia-Pacific; and
• Total Solution, a sterile cleaning and wetting solution for hard contact lenses that is marketed in Europe and the Middle East.
“These are single-purpose, market-proven, safe products. In fact, some of the products are among the few preservative-free solutions in their markets. All six are high-margin products that will be very earnings accretive to Exaeris and, in turn, to Inyx,” said Jack Kachkar, MD, chairman and CEO of Inyx.
As part of the agreement, Exaeris will take over established customer relationships with leading mass merchandisers, grocers, and drug wholesalers in the United States as well as licensed distribution channels in Europe, the Middle East, and Asia-Pacific markets.
The transaction includes Inyx’s acquisition of AMO’s interest in intellectual property of the acquired products, such as trademarks, copyrights, and manufacturing formulas.
Dr. Kachkar added, “One of the other benefits of this acquisition is that most of these products can also be produced in-house at Inyx, which should further enhance their profit margins as well as increase capacity utilization and, in turn, profitability of Inyx’s manufacturing business.”
Over the next year, Inyx has “first right of refusal” to complementary eye care products that AMO may divest.
