Arnold & Porter Advises Alcon in Acquisition of Kala Pharmaceutical’s Eye Drop Treatments

Arnold & Porter advised Alcon Laboratories, Inc. (Alcon), the global leader in eye care, in its acquisition of Kala Pharmaceutical’s commercial portfolio and related intellectual property assets.

The transaction includes the acquisition of EYSUVIS, the first and only US FDA-approved medicine for the short-term treatment of the signs and symptoms of dry eye disease, and INVELTYS, a twice-a-day corticosteroid for the treatment of post-operative inflammation and pain following ocular surgery. Kala received an upfront payment of $60 million in cash at closing and is eligible to receive up to an additional $325 million in commercial-based sales milestones, for total consideration of up to $385 million. The deal closed on July 8, 2022.

The Arnold & Porter team was led by Corporate & Finance co-chair Derek Stoldt and partner Eric Rothman. The team also included counsel Peter Danias, senior associate Danielle Henderson, and associate Elaine Sylvester on corporate & finance issues; partners Allison Shuren, Ariane Horn, and associate Alyssa Lattner on FDA and healthcare regulatory issues; partner Laurie Abramowitz and associate Anna Parnes on tax issues; partner Uri Horowitz and associate Kathryn Geoffroy on employee benefits issues; and partner Debbie Feinstein, counsel Justin Hedge, and associate Tommy La Voy on antitrust issues.