Novartis Xiidra Buy Looks Even Pricier With File Pulled In EU
EMA Questions Efficacy Of Eye Drop
A year after inking a multi-billion dollar deal to get hold of the Takeda eye drop, Novartis has given up on getting approval for Xiidra in Europe with the EMA unconvinced about the therapy's efficacy.
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Despite the impact from COVID-19, Novartis performed strongly in the second quarter "demonstrating resilience and agility of our associates and operations," according to CEO Vas Narasimhan. However, there is cause for concern at its ophthalmogy business and those problems are certainly not all down to coronavirus.
The data package used to secure the US approval of Novartis's dry eye drug Xiidra (lifitegrast) was not enough to convince European regulators and experts in the field of eye diseases that the treatment should be sold in the EU.
Danish firm picks up portfolio and manufacturing sites, along with around 600 employees.