Xiidra, Dry Eye Treatment Drug, Acquired by Novartis
The global pharmaceutical giant Novartis (NYSE: NVS) bought the assets to Xiidra 5% solution from Takeda Pharmaceutical Company (NYSE: TAK). The announcement gives us the largest pharmaceutical deal of the year so far, with Novartis paying $3.4 billion upfront and $1.9 billion in potential milestones for the drug. In 2018, Xiidra generated revenue of $400 million. Xiidra is the first and only prescription treatment approved for both signs and symptoms of dry eye by inhibiting inflammation caused by the disease. This acquisition fits strategically within Novartis’ ophthalmic pharmaceutical portfolio, laying the groundwork for front-of-the-eye pipeline products currently in... Read More »
Small World: The Week of International Pharma Deals
Last week, the list of pharmaceutical deals announced also could have served as a geography lesson. Not only was the volume of deals particularly high, accounting for nearly 28% of the week’s total, but it had a diverse list of countries. Beginning in the United States, New York City-based Royalty Pharma, which focuses entirely on acquiring royalty interests in marketed and late-stage biopharmaceutical products, acquired the royalty interest in Indianapolis-based Eli Lilly’s (NYSE: LLY) Emgality from Arteaus Therapeutics (Cambridge, Massachusetts) for $260 million. Advanz Pharma Corp. (ADVZ.TO), a Canadian pharmaceutical company, bought the global rights to two drugs for $33.3... Read More »Schedule a demo
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