May 8, 2019 / 10:35 PM / 17 days ago

BRIEF-Novartis Says Entered Into Agreement With Takeda Pharmaceutical To Acquire Xiidra 5 pct Worldwide

May 8 (Reuters) - Novartis AG:

* REG-NOVARTIS TO ACQUIRE XIIDRA®, EXPANDING FRONT-OF-EYE PORTFOLIO AND STRENGTHENING LEADERSHIP IN EYE CARE

* NOVARTIS AG - DEAL TERMS INCLUDE A USD 3.4 BILLION UPFRONT PAYMENT WITH POTENTIAL MILESTONE PAYMENTS OF UP TO USD 1.9 BILLION

* NOVARTIS AG - AS PART OF AGREEMENT, NOVARTIS WILL BE TAKING ON APPROXIMATELY 400 EMPLOYEES ASSOCIATED WITH PRODUCT

* NOVARTIS AG - ON DEAL CLOSE, NOVARTIS PLANS TRANSITION OF OPERATIONS AND INTEGRATION OF XIIDRA INTO ITS PHARMACEUTICALS PORTFOLIO

* NOVARTIS AG SAYS ENTERED INTO AN AGREEMENT WITH TAKEDA PHARMACEUTICAL COMPANY LIMITED TO ACQUIRE ASSETS ASSOCIATED WITH XIIDRA 5% WORLDWIDE Source text for Eikon: Further company coverage:

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