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Novartis Delighted With Xiidra Deal Despite Eye-Watering Price

 
• By Kevin Grogan

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.

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Novartis pays big bucks for dry eye drug • Source: Shutterstock

It was no surprise that Takeda Pharmaceutical Co. Ltd. was looking to divest Xiidra, which it got access to following the $62bn acquisition of Shire PLC earlier this year, but the amount that Novartis AG has agreed to pay for the dry eye drug has certainly raised eyebrows.

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