Merck to acquire eye drug company EyeBio for up to $3 bln

May 29 (Reuters) – Merck (MRK.N), opens new tab said on Wednesday it would acquire eye disease drug developer EyeBio for up to $3 billion, in the latest acquisition by the U.S. drugmaker as it looks to boost growth.

Under the deal, Merck would pay $1.3 billion upfront and up to $1.7 billion in future milestone payments.

Merck had said in February it was in the market for deals of up to around $15 billion, and has already struck two major deals this year, as its blockbuster cancer immunotherapy Keytruda is set to lose exclusivity by the end of the decade.

Source: REUTER