Novartis Acquires Takeda’s Dry-Eye Care Drug Xiidra for $5.3 BillionBy
Novartis has completed its acquisition of Takeda’s Xiidra (lifitegrast ophthalmic solution), a prescription drug for treating dry eye, in a $5.3-billion deal that includes $3.4 billion upfront and up to $1.9 billion in potential milestone payments. Novartis had announced the acquisition earlier this year (May 2019).
Xiidra, which has an anti-inflammatory mechanism of action, is approved to treat the signs and symptoms of dry-eye disease in multiple markets, including the US, Canada, and Australia. It is under regulatory review in a number of additional markets.
With the acquisition, Novartis says it will be taking on approximately 400 employees associated with the product.
Novartis plans to integrate Xiidra into its pharmaceuticals portfolio. Novartis says that the additional commercial experiences established with Xiidra is expected to better position the company for its front-of-the-eye pipeline products currently in development.