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.
You may also be interested in...
The pandemic is expected to dominate the industry's second quarter earnings calls, which kick off on 16 July, but here are 10 other topics to listen for.
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to answer objections relating to its EU marketing application for the dry eye drug, Xiidra (lifitegrast), and so it has withdrawn the application.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.
The Swiss biotech believes the clinical success of OCS-01, a novel eye drop formulation of dexamethasone for diabetic macular edema, validates not only the drug but also Oculis's proprietary technology, allowing it to build up a pipeline of products for both retinal and front of the eye diseases.