Minute Insight: AbbVie Bets Big On Glaucoma Market With iSTAR Purchase Deal

The pharmaceutical company has made a bold play to expand its presence in the device space, giving iSTAR upfront cash in a deal that grants it the right to buy iSTAR for almost half a billion dollars.

Minute Insight
• Source: Informa/Alamy

In a deal described by the two companies as a “strategic alliance,” AbbVie has paid iStar Medical SA $60m to continue the development and commercialization of iSTAR’s MINIject glaucoma device.

The upfront payment will “go straight to supporting us advance the further clinical and commercial development of MINIject,” iSTAR Medical CEO Michel Vanbrabant told Medtech Insight.

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