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Novartis commits $1bn for ex-US rights to Ophthotech AMD drug

 
• By Mandy Jackson

Ophthotech will almost double its cash balance with a $200m upfront payment and $130m in near-term milestone fees under a deal worth up to $1.03bn plus royalties that gives Novartis ex-US rights to Fovista for wet age-related macular degeneration (AMD).

Ophthotech will almost double its cash balance with a $200m upfront payment and $130m in near-term milestone fees under a deal worth up to $1.03bn plus royalties that gives Novartis ex-US rights to Fovista for wet age-related macular degeneration (AMD).

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• By Andrew McConaghie

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• By Andrew McConaghie

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• By Andrew McConaghie

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• By Kevin Grogan

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• By Anju Ghangurde

As biopharma derisks its business with China ‘rebalancing’ strategies, Syngene could convert majority of such pilots into full program contracts amid a challenging FY2025. The CRDMO also expects business discussions pertaining to a newly acquired US biologics site to mature into commercial opportunities.