Merck, known as MSD outside the United States and Canada, has completed its acquisition of Inspire Pharmaceuticals, Inc., a specialty pharmaceutical company focused on developing and commercializing ophthalmic products, for $5.00 per share in cash.
"We are excited to complete this compelling and highly complementary acquisition of Inspire," said Beverly Lybrand, senior vice president and general manager, neuroscience and ophthalmology, Merck. "The successful completion of this transaction strengthens our ophthalmology business and positions us for future growth with an expanded portfolio and a best in class commercialization organization."
Effective today, Monarch Transaction Corp. a wholly-owned subsidiary of Merck, has merged with and into Inspire, with Inspire surviving as a wholly owned subsidiary of Merck. As a result of the merger, Inspire shares have ceased trading on the NASDAQ Global Market and Inspire will no longer have reporting obligations under the Securities and Exchange Act of 1934, as amended.