Morning NewsNovartis Completes Divestment Of 'front Of Eye' Ophthalmology Assets
Novartis said that it has completed its divestment of 'front of eye' ophthalmology assets to Bausch + Lomb, a global eye health company, in a transaction valued up to $2.5 billion. The deal value consisted of 1.75 billion in upfront cash, plus potential additional milestone payments. The deal includes Xiidra, the first approved prescription treatment for the signs and symptoms of dry eye disease, and investigational medicine SAF312 (libvatrep), in development as a first-in-class therapy for chronic ocular surface pain (COSP), as well as the AcuStream delivery device in dry eye indications and OJL332, a second generation TRPV1 antagonist in pre-clinical development.