Pharmaceutical Giants Novartis and Bausch + Lomb Strike Multi-Billion Dollar Eye Care Deal
TL;DR Summary
Novartis has signed an agreement to divest its 'front of eye' ophthalmology assets, including Xiidra® and SAF312 (libvatrep), to Bausch + Lomb for up to $2.5 billion. The deal aligns with Novartis' focused strategy of prioritizing therapeutic areas. Novartis will receive milestone payments linked to future sales, and will continue to supply Xiidra to patients on behalf of Bausch + Lomb for a limited period. The transaction is expected to close in the second half of 2023, subject to customary conditions. Novartis will continue its research and development efforts in retinal diseases.
- Novartis signs agreement to divest 'front of eye' ophthalmology assets in line with focused strategy Novartis
- Bausch + Lomb's CEO Inks First Big Deal Since Return The Wall Street Journal
- Novartis sells off dry eye disease med Xiidra, other ophthalmology assets to Bausch + Lomb for $2.5B FiercePharma
- Bausch + Lomb buys Novartis drugs for $1.75 billion to boost eye-care portfolio Reuters
- Bausch Health’s Bausch + Lomb to Acquire Novartis’ XIIDRA(R) Yahoo Finance
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