According to a recent FiercePharma article, Novartis just sold five of its eye drugs. Back in August, the Swiss pharmaceutical company announced plans to spin off its generics arm, Sandoz. Amid the restructuring, the company decided to part with five of its ophthalmic drugs. Canadian eye therapy company Harrow, will pay $130 million for the five drugs, plus additional milestone payments of $45 million. The sale includes two eye drops for cataract surgery recovery (Ilevro and Nevanac), a bacterial conjunctivitis eyedrop (Vigamox), eye drops for inflammation (Maxidex), and one injectable (Triesence). The acquisition will likely take place in Q1 of 2023, and Novartis will still own the products outside of the United States.
Novartis Sold Off 5 Ophthalmic Drugs
Amid restructuring, the company will sell five eye therapy drugs to Harrow in a deal that will close in Q1 2023.
Dec 21, 2022