Xbrane and Stada have announced that they are seeking a new North American partner for their biosimilar ranibizumab candidate after agreeing to discontinue a deal with Bausch+Lomb.

The companies got US FDA approval for the drug, which they said is the only approved medicine that targets tear evaporation rather than tear production, though its mechanism is not fully understood.

Joseph Papa steps down as chair and will remain at helm and on board until successor appointed. Guggenheim analysts reported representatives on B+L board for activist investor Carl Icahn appointed a month ago likely led to Papa’s exit.