Takeda sells Shire’s Xiidra, transfers 400 staffers to Novartis in $3.4B deal

As previously rumored, Takeda is selling Shire’s dry-eye drug Xiidra. To take it in, Novartis is shelling out $3.4 billion upfront and commits potential milestone payments of up to $1.9 billion, and gets a therapy that “fits strategically” with its ophthalmic pharmaceutical portfolio, the Swiss drugmaker said Thursday.