Eye care drug company Alcon and Aerie Pharmaceuticals have entered a definitive merger agreement through which Alcon will acquire Aerie for $770 million.

The acquisition will give Alcon access to Aerie’s marketed fixed-dose kinase inhibitors, Rocklatan and Rhopressa, as well as other clinical and preclinical ophthalmic pharmaceutical products. In exchange, Aerie will receive $15.25 per share, a premium of 37% to the last closing price.

Alcon’s CEO David Endicott says the company is looking forward to joining forces. “Aerie is a natural fit with on-market and pipeline products, and R&D capabilities that offer the infrastructure needed to expand our ophthalmic pharmaceutical presence. As we continue to broaden our portfolio across glaucoma, retina, and ocular surface disease, we are excited to help even more patients see brilliantly.”

Most recently, Aerie’s financial guidance for its total glaucoma franchise net product revenue totalled $130-$140 million for 2022. Alcon, based in Switzerland, profited $8.2 billion in 2021 with a net income of $1.1 billion.