Bausch + Lomb NovartisBausch + Lomb (NYSE:BLCO) announced today that it agreed to acquire XIIDRA non-steroid eye drops from Novartis.

The company also acquired an investigational medicine and rights to a delivery device for treating dry eye disease (DED). AcuStream, an investigational device that may have the potential to facilitate precise dosing and accurate delivery of certain topical ophthalmic medications to the eye.

XIIDRA (lifitegrast ophthalmic) solution 5% has approval to treat the signs and symptoms of DED. It focuses on inflammation associated with dry eye.

The acquisition complements Bausch + Lomb’s existing dry eye portfolio, which includes eye and contact lens drops. It features the recently approved MIEBO eye drop for DED, which works differently than XIIDRA.

Novartis values the transaction at up to $2.5 billion, including $1.75 billion in upfront cash, plus additional milestone payments.

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