Novartis Delighted With Xiidra Deal Despite Eye-Watering Price
Shire got hold of the eyedrop product in 2013 through its acquisition of SARcode which cost $160m and despite struggling on the market, Novartis is paying $3.4bn upfront to buy Xiidra.
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Novartis recognized it would not be able to answer objections relating to its EU marketing application for the dry eye drug, Xiidra (lifitegrast), and so it has withdrawn the application. The company last year paid upwards of $3bn for the drug, which is already marketed in the US and other markets.