Take­da takes a $200M hit af­ter No­var­tis is forced to yank its mar­ket­ing ap­pli­ca­tion for Xi­idra

Now that the EMA has el­bowed No­var­tis’ ap­pli­ca­tion for Xi­idra off the ta­ble, the re­ver­ber­a­tions are be­ing felt at Take­da.

The phar­ma gi­ant not­ed ear­ly Mon­day that it will rec­og­nize a loss of $200 mil­lion for the cur­rent quar­ter af­ter the news hit late last week that the Eu­ro­pean reg­u­la­tor had de­cid­ed that the eye drug they sold to No­var­tis for $3.4 bil­lion in cash and $1.9 bil­lion in mile­stones hadn’t made its case on ef­fi­ca­cy. The drug has been mar­ket­ed in the US now for 4 years, and Take­da picked it up in the $62 bil­lion Shire buy­out and then prompt­ly sold it off to No­var­tis.

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