Novartis Acquires Worldwide Rights of Takeda’s Xiidra (lifitegrast ophthalmic solution) for $5.3B

Shots:

• Takeda to receive $3.4B upfront with 1.9B milestones, making a total deal value of $5.3B. Novartis to get WW rights of Xiidra and will take ~400 employees associated with the product, with its expected closure in H2’19
• The focus of the acquisition is to strengthen Novartis’ ophthalmic & front-of-the-eye portfolio, allowing Takeda to focus on its key therapy areas i.e, gastroenterology, rare diseases, plasma-derived therapies, oncology and neuroscience
• Xiidra (lifitegrast ophthalmic solution, 5%, q2d) is an eyedrop solution and is approved in the US, Canada & Australia to treat signs and symptoms of dry eye disease and generated a revenue of $0.4B in 2018. Additionally, Takeda also sell rights of its TachoSil to Ethicon for ~400M

Click here to read full press release/ article | Ref: Novartis | Image: Medical, Marketing and Media