Allergan Agrees To Buy Private Biotech ForSight VISION5 For $95 Mln

Allergan PLC said early Thursday that it had agreed to acquire the private eye care biotechnology company ForSight VISION5 for $95 million. The deal also includes a launch milestone payment for the biotech's lead product, which is inserted on the surface of the eye and allows for the extended release of glaucoma medication, and completed mid-stage clinical trials last year. The purchase is expected to be completed within 60 days. Allergan shares rose 13.2% over the last three months, compared with a 5.4% rise in the S&P 500 .