OSAKA, Japan, July 2 (Bernama-BUSINESS WIRE) — Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the completion of its sale of its Xiidra® (lifitegrast ophthalmic solution) 5% product to Novartis for $3.4 billion upfront in cash and up to an additional $1.9 billion in potential milestone payments.
“The completion of this transaction marks an important step in executing Takeda’s strategy, which is focused on optimizing our portfolio around the key business areas that are core to our long-term growth and creating the most value for our patients and shareholders,” said Christophe Weber, President and Chief Executive Officer of Takeda. “We are making solid progress on our commitment to simplify our portfolio and meet our deleveraging targets, while continuing to deliver highly-innovative medicines and transformative care to patients around the world and enhance long-term shareholder value. We are proud of the benefits Xiidra® has created for patients as part of Takeda, and confident that Novartis will be a strong steward of this innovative therapeutic.”
