![Bausch + Lomb to buy Novartis dry-eye drug for $1.75 billion - WSJ](https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ5T0DJ_L.jpg)
(Reuters) -Bausch + Lomb Corp will buy a dry-eye drug from Swiss pharma firm Novartis for $1.75 billion, the Wall Road Journal reported on Friday, because the contact lens maker seeks to capitalise on a rising marketplace for the illness’s therapy.
Acquisition of the drug, Xiidra, will mark the primary massive deal by CEO Saunders since he returned to the corporate in March.
Gross sales of the anti-inflammation eye drop Xiidra, primarily from the U.S. market, had been $487 million final yr, up 4%. It faces competitors from AbbVie (NYSE:)’s Restasis and cheaper copycat variations.
A spokesperson for Novartis declined to remark, whereas Bausch + Lomb didn’t instantly reply to a Reuters request for remark.