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Novartis Xiidra Buy Looks Even Pricier With File Pulled In EU

EMA Questions Efficacy Of Eye Drop

 
• By Kevin Grogan

A year after inking a multi-billion dollar deal to get hold of the Takeda eye drop, Novartis has given up on getting approval for Xiidra in Europe with the EMA unconvinced about the therapy's efficacy.

Drain
Was Novartis's Xiidra purchase money down the drain? • Source: Shutterstock

Eyebrows that were raised when Novartis AG splashed out $3.4bn upfront to buy Xiidra from Takeda Pharmaceutical Co. Ltd. are now twitching wildly after the Swiss major withdrew its filing for the dry eye disease drug in Europe and regulators raised concerns about its efficacy.

Last July, Novartis agreed to pay the huge upfront, plus potential milestone payments of up to $1.9bn, for Xiidra (lifitegrast),...

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