Novartis divests “front of eye” ophthalmology assets to Bausch + Lomb

Novartis announced that it has signed an agreement to divest ‘front of eye’ ophthalmology assets to Bausch + Lomb, a global eye health company, in a transaction valued up to $2.5 billion, including $1.75 billion in upfront cash, plus additional milestone payments.

The deal includes Xiidra, the first approved prescription treatment for the signs and symptoms of dry eye disease, and investigational medicine SAF 312 (libvatrep), in development as a first-in-class therapy for chronic ocular surface pain (COSP), as well as the rights for use of the AcuStream delivery device in dry eye indications and OJL332, a second generation TRPV1 antagonist in pre-clinical development.