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Novartis: buys dry eye treatment from Japan's Takeda

( - Novartis is acquiring a prescription eye drop designed to treat dry eye disease from Japan's Takeda, the Swiss drugmaker said on Wednesday.

The terms of the deal include a 3.4 billion dollar upfront payment with potential milestone payments of up to 1.9 billion dollars, Novartis said, meaning that the total price could reach 5.3 billion dollars.

The transaction aims to strenghthen the group's front-of-the-eye portfolio and ophthalmic market position, it said.

The deal is expected to be closed in the second half of 2019.

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