Merck’s potential $3B EyeBio acquisition puts drugmaker back in ophthalmology

Merck announced on Wednesday it is acquiring privately held biotech EyeBio in a potential $3 billion bid to diversify its pipeline and reestablish itself as a major player in the ophthalmology space.

Under the terms of the agreement, Merck will pay $1.3 billion upfront and put $1.7 billion on the line in developmental, regulatory and commercial milestones. The acquisition has been unanimously approved by the EyeBio Board of Directors. Merck will carry out the purchase through a subsidiary.