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Allergan is betting on a lot of dry eyes

The pharmaceutical company bought a medical device company that is developing cutting-edge treatments for dry eyes.

Just exactly how much are dry eyes worth? Apparently, $125 million.

Allergan announced it will purchase Oculeve, a development-stage medical device company focused on developing novel treatments for dry eye disease.

The acquisition of Oculeve adds novel, complementary dry eye development programs to Allergan's current eye care research and development programs, including OD-01, a non-invasive nasal neurostimulation device that increases tear production in patients with dry eye disease, according to a company press release.

Oculeve has completed four clinical studies of OD-01 to date in more than 200 patients, showing positive safety and efficacy of the device. Allergan plans to conduct two additional pivotal trials prior to FDA submission, which is expected in 2016 with potential commercial launch in 2017.

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