Novartis to acquire Xiidra, expanding front-of-eye portfolio and strengthening leadership in eye care
- Xiidra (lifitegrast ophthalmic solution) 5%?fits strategically within industry-leading USD 4.6 billion Novartis ophthalmic pharmaceutical portfolio, laying groundwork for front-of-the-eye pipeline products currently in development[1]
- Xiidra is the first and only prescription treatment approved for both signs and symptoms of dry eye disease with a mechanism of action that targets inflammation[2]
- Xiidra achieved USD 0.4 billion of revenue in 2018 and is well positioned for blockbuster potential; closing expected in second half of 2019, subject to satisfaction of customary closing conditions, including regulatory approvals?
- Deal terms include a USD 3.4 billion upfront payment with potential milestone payments of up to USD 1.9 billion