Japanese Santen Pharmaceutical has agreed to acquire 50.55% of the share capital of Novagali Pharma in a deal that values the French eye care company at more than €100 M (US$136 M). It will then launch a tender offer to purchase all outstanding shares of the company. The acquisition will strengthen Santen’s global presence, thus helping it meet one of its key strategic objectives. Novagali markets Cationorm®, an active-free ophthalmic cationic emulsion for dry eye, and its development pipeline includes two products in Phase III development.