Novartis has signed an agreement to divest ‘front of eye’ ophthalmology assets to global eye health company Bausch and Lomb, in a transaction valued up to US$2.5 billion, including US$1.75 billion in upfront cash.
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 rights for use of the AcuStream delivery device in dry eye indications and OJL332, a second generation TRPV1 antagonist in pre-clinical development.
Novartis chief strategy and growth officer Ronny Gal said the “ongoing portfolio refinement” allows Novartis to “best deploy our scientific expertise and resources towards priority programs and therapeutic areas”.
Novartis will continue its research and development efforts in addressing retinal diseases via platforms including gene therapy and optogenetics
“We believe that Bausch and Lomb has the capabilities, scale, and commitment to continue the work of Novartis in delivering and developing much needed therapies for patients suffering from dry eye and related conditions.”
Novartis will continue its research and development efforts in addressing retinal diseases via platforms including gene therapy and optogenetics.
