Novartis Sells Eye Drugs to Eye Therapy Company for Roughly $175 Million

Amid a major restructuring and the spinoff of generics unit Sandoz, Novartis isn’t done shaking things up.

The pharma giant has sold five of its ophthalmic drugs to eye therapy company Harrow for a one-time payment of $130 million, plus additional milestone payments of $45 million.

The sale includes cataract surgery recovery eye drops Ilevro and Nevanac, bacterial conjunctivitis eyedrop Vigamox, inflammation eye drops Maxidex and the injectable Triesence. The deal puts Harrow on the map into “a leadership position in the U.S. ophthalmic pharmaceuticals market,” Mark L. Baum, Harrow’s CEO and chairman, said in a statement.

Read the source article at fiercepharma.com