1. Scrip
  2. >>Business
  3. >>Deals

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.

BigMoneyBag
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.

The Swiss giant is to pay $3.4bn upfront for Xiidra (lifitegrast) plus potential milestone payments of up to $1.9bn, a...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Deals

AstraZeneca Taps Into China’s R&D Engine With CSPC Alliance

 
• By Andrew McConaghie

After in-licensing a cardiovascular candidate last year, AstraZeneca has signed a strategic drug discovery alliance, which could generate billions of dollars in payments to the Chinese firm.

Lilly Looks For Muscle-Sparing Candidates In Pact With Juvena

 
• By Joseph Haas

Deal Snapshot: Including its internal efforts with bimagrumab, Lilly has been seeking a muscle-sparing therapy to complement GLP-1 obesity drugs, such as Zepbound.

Asia Deal Watch: Otsuka’s Taiho Licenses LSD1 Inhibitor Rights To Benz

 
• By Joseph Haas, Lisa Takagi, Jung Won Shin, Vibha Ravi, and Sushmita Panda

Plus deals involving BioAge/JiKang, Sanyou/Medicovestor, AriBio/Acino, Intragrand/Transpire, Kaken/Twocells, Sumitomo/Novo Nordisk, NIBEC/Undisclosed, Formosa/Adalvo, Drug Farm/Amoytop, Lupin/SteinCares and Lupin/Honeywell.

BioNTech To Buy mRNA Rivals CureVac

 
• By Andrew McConaghie

The $1.25bn buyout is a simple deal for BioNTech, bringing new mRNA R&D and manufacturing capacity while also ending a bothersome patent dispute.

More from Business

Finance Watch: Insmed Cashes In On Positive Data With $750m Offering

 
• By Mandy Jackson

Public Company Edition: Insmed raised $750m after reporting positive Phase IIb data in PAH, Cogent accessed up to $400m in new debt, Kelun-Biotech netted $250m in a placement of shares and ADC revealed a $100m private placement. In strategic updates, Recursion cut 20% of its jobs.

Lilly Looks For Muscle-Sparing Candidates In Pact With Juvena

 
• By Joseph Haas

Deal Snapshot: Including its internal efforts with bimagrumab, Lilly has been seeking a muscle-sparing therapy to complement GLP-1 obesity drugs, such as Zepbound.

Asia Deal Watch: Otsuka’s Taiho Licenses LSD1 Inhibitor Rights To Benz

 
• By Joseph Haas, Lisa Takagi, Jung Won Shin, Vibha Ravi, and Sushmita Panda

Plus deals involving BioAge/JiKang, Sanyou/Medicovestor, AriBio/Acino, Intragrand/Transpire, Kaken/Twocells, Sumitomo/Novo Nordisk, NIBEC/Undisclosed, Formosa/Adalvo, Drug Farm/Amoytop, Lupin/SteinCares and Lupin/Honeywell.