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Drug Names(s): Hydroxyeicosatetraenoic acid
Description: 15(S)-HETE (hydroxyeicosatetraenoic acid) is a fatty acid that occurs naturally within the body. Like INS365, 15(S)-HETE is a secretagogue in that it induces secretions from bodily tissues. Specifically, when instilled in the eye, 15(S)-HETE stimulates production of the glycoprotein Muc1. Muc1 is an important component of the tear mucin layer; enhancement of this element may help to alleviate corneal injury and restore corneal integrity in dry eye patients.
Deal Structure: 15(S)-HETE was originally developed by Alcon.
In January 2010, Novartis and Nestl initiated completion of the 2008 agreement, whereby Novartis is exercising its call option to acquire Nestl's remaining 52% Alcon stake for USD 28.1 billion, or USD 180 per share. In combination with the 25% stake initially purchased in April 2008, this acquisition gives Novartis 77% ownership of Alcon. To attain a 100% ownership of Alcon, Novartis proposed to acquire the remaining 23% held by minority shareholders, at a fixed exchange ratio of 2.80 Novartis shares for each remaining Alcon share. In August 2010, Novartis announced that it completed its purchase of Alcon stock from Nestle resulting in 77% ownership of Alcon.
In December 2010, Novartis announced that it entered into a definitive agreement to merge Alcon into Novartis for a combination of cash and Novartis shares. In April 2011, Novartis announced that it completed the merger of Alcon into Novartis.
Pink Sheet Regulating Off-label Use in Hungary
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