Novartis AG has entered into an agreement to fully acquire from Takeda Pharmaceutical Co. Ltd. the ex-Shire PLC dry eye drug Xiidra (lifitegrast ophthalmic solution 5%) and related assets, in a widely anticipated divestment move by the Japanese firm as it rationalizes its combined portfolio following the $62bn acquisition of Shire earlier this year.
Separately, but as part of the same process, Takeda has also entered into a smaller agreement to divest TachoSil, a surgical patch designed to control bleeding, to the J&J medical