Connect with us

Headlines

Dry Eye Treatment to Be Acquired in $5.3B Deal

The deal is expected to close later this year.

mm

Published

on

Novartis announced that it will acquire Xiidra 5%, a dry eye treatment, from Takeda Pharmaceutical Co. Ltd. in a deal worth up to $5.3 billion.

Xiidra (lifitegrast ophthalmic solution) is described in a press release as “the first and only prescription treatment approved to treat both signs and symptoms of dry eye by inhibiting inflammation caused by the disease.”

What’s Really Up with Vision Expo in 2021?
INVISION Podcast

What’s Really Up with Vision Expo in 2021?

Podcast: Talking with the Finest, Hippest of Them All About Why There are No Ball Point Pens in Her Shop
INVISION Podcast

Podcast: Talking with the Finest, Hippest of Them All About Why There are No Ball Point Pens in Her Shop

Licensed or Not, Member or Not, the Opticians Association of America is Here for You [Podcast]
INVISION Podcast

Licensed or Not, Member or Not, the Opticians Association of America is Here for You [Podcast]

“Xiidra, with its unique dual benefits, is an example of the type of innovative advances we invest in for the benefit of patients,” said Paul Hudson, CEO of Novartis Pharmaceuticals.

“We look forward to leveraging our well-established commercial infrastructure to bring this medicine to more patients.”

Advertisement

Deal terms include a $3.4 billion upfront payment with potential milestone payments of up to $1.9 billion. Novartis will be taking on about 400 employees associated with the product.

Closing of the transaction is expected in the second half of 2019, subject to customary closing conditions, including regulatory approvals.

Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at [email protected].

SPONSORED VIDEO

Sponsored by Shamir

Customer Focused, Service Oriented, Forward Thinking

Shamir is the recognized world leader in custom-designed technology for life improvement, fashion, performance sports, occupational single vision, and progressive lenses. Our values, the driving force behind our ideas and actions, keep the ECP in the center. Every Shamir representative is personally committed to our customers’ vision, and to providing the best service and support to meet and exceed their expectations, all with a personal touch.

Click here for more information.

Promoted Headlines

Advertisement

Advertisement

Subscribe

INVISIONMAG.COM
BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular