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Companies & Markets

Swiss drugmaker Novartis buys Takeda's dry eye drug for US$3.4b

Published Wed, May 8, 2019 · 10:48 PM
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[BENGALURU] Swiss drugmaker Novartis AG said on Wednesday it agreed to acquire Japan-headquartered Takeda Pharmaceutical Company's dry eye drug Xiidra for an upfront payment of US$3.4 billion to expand its portfolio of eye care medicines.

The deal includes potential milestone payments of up to US$1.9 billion and is expected to close in the second half of 2019.

REUTERS

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