NOVARTIS will divest 'front of eye' ophthalmology assets to Bausch Lomb, in a transaction valued up to US$2.5 billion (A$3.74 billion), including US$1.75 billion (A$2.62 billion) in upfront cash, plus additional milestone payments, with the closing of the deal later this year.
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, 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.
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