Novartis Eyes Leaner Ophthalmic Business In Xiidra Deal With Bausch + Lomb
The Swiss drug maker said it would sell the underperforming dry eye drug plus pipeline assets and rights to a delivery device for $2.5bn, which for Bausch + Lomb means a bigger presence in the space.
You may also be interested in...
Public Company Edition: Neumora grossed $250m and RayzeBio raised $311m in the first initial public offerings since early August. Also, ImmunityBio completes $470m in equity and debt financings, Bausch + Lomb sells $1.4bn worth of notes and Arbutus is among firms making cuts to conserve cash.
Canadian reports Lumify eye, PreserVision, Ocuvite and other OTC drug or supplement brands account for 67% of $646m in vision care business total sales, which was well above half Q2 total revenues of $1.04bn, up 10%.
Perrigo will note regulatory approval for Opill as first US OTC oral contraceptive in first earnings briefing with Patrick Lockwood-Taylor at helm. Other firsts in sector will be Kenvue’s 20 July results being its first since spin-out from J&J in May and Bausch + Lomb’s first quarterly results under CEO Saunders.