Novartis Acquires Worldwide Rights of Takeda’s Xiidra (lifitegrast ophthalmic solution) for $5.3B

 Novartis Acquires Worldwide Rights of Takeda’s Xiidra (lifitegrast ophthalmic solution) for $5.3B

Novartis Acquires Worldwide Rights of Takeda’s Xiidra (lifitegrast ophthalmic solution) for $5.3B

Shots:

  • Takeda to receive $3.4B upfront with 1.9B milestones, making a total deal value of $5.3B. Novartis to get WW rights of Xiidra and will take ~400 employees associated with the product, with its expected closure in H2’19
  • The focus of the acquisition is to strengthen Novartis’ ophthalmic & front-of-the-eye portfolio, allowing Takeda to focus on its key therapy areas i.e, gastroenterology, rare diseases, plasma-derived therapies, oncology and neuroscience
  • Xiidra (lifitegrast ophthalmic solution, 5%, q2d) is an eyedrop solution and is approved in the US, Canada & Australia to treat signs and symptoms of dry eye disease and generated a revenue of $0.4B in 2018. Additionally, Takeda also sell rights of its TachoSil to Ethicon for ~400M

Click here to read full press release/ article | Ref: Novartis | Image: Medical, Marketing and Media

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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