Bausch + Lomb provides financials for Novartis XIIDRA acquisition; $1.75B upfront plus $750M milestones

Bausch & Lomb Corp

Acquisition of XIIDRA (lifitegrast) and certain ophthalmology assets from Novartis for $1.75B upfront and up to $750M milestone payments.
Closing expected at or around end of September 2023, subject to customary conditions.
Acquired assets had net revenue of $487M in 2022 and $468M in 2021, with total comprehensive shortfall of $384M in 2022.
Net assets acquired were $2.065B as of Dec 31, 2022, including $2.138B intangible asset.

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