The buzz about Novartis’ latest buyout deal was right, mostly.
On Wednesday evening the pharma giant put out word that it snagged Takeda’s dry eye drug Xiidra — which the Japanese company swooped up in its Shire acquisition — for $3.4 billion cash, with another $1.9 billion in milestones on the table. As part of the deal, Novartis is taking on 400 staffers who are working on the drug, reducing more of the burn that Takeda took on in the Shire buyout.
But that's not all.
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