Bayer Buys US Drugmaker Perfuse for as Much as $2.45 Billion

Bayer AG agreed to buy eye-medicines maker Perfuse Therapeutics Inc. as it looks to strengthen its pipeline amid rising generic competition for some of its blockbuster drugs.

The deal could be worth as much as $2.45 billion, with $300 million paid upfront and additional development, regulatory and commercial milestone payments tied to success criteria, Bayer said Wednesday in a statement.