Novartis Acquires Rights for Dry-Eye Drug Xiidra at Fair Price
Novartis has announced the acquisition of rights to dry-eye drug Xiidra from Takeda. We don't expect any changes to our fair value estimate, as the price of deal looks fairly balanced with the future sales potential of the drug. Strategically, we view the deal as helpful for Novartis to leverage its sales and marketing efforts with other eye drugs, especially the upcoming launch of age-related macular degeneration drug brolucizumab. Even though Novartis spun off its eyecare medical product group...
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