Nicox, an international pharmaceutical company focused on the ophthalmic market, has acquired Eupharmed, a privately-held Italian ophthalmic company, for $4.8 million in newly issued Nicox shares, plus milestones of up to $3.3 million. The acquisition provides Nicox with an established sales and marketing platform in Italy and a broad portfolio of eye care products. Eupharmed had sales of $4.9 million in 2012 and is expected to see full-year sales of approximately $5.3 million in 2013.

Philippe Masquida, executive vice president and managing director of European and International Operations of Nicox, said, “Italy is the one of the largest markets for ophthalmic products in Europe, with sales reaching $584.7 million in the 12-month period from September 2012 to August 2013.”