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In its first selloffs since the Shire buyout, Takeda is offloading dry-eye drug Xiidra to Novartis for up to $5.3 billion, including upfront cash and milestone-based follow-up payments. Daiichi Sankyo is eyeing an FDA submission for its AstraZeneca-partnered, anti-HER2 antibody-drug conjugate after a positive phase 2 readout. Sun Pharmaceutical is scouting for a Chinese partner to help it tap into the world's second-largest drug market, the company's managing director Dilip Shanghvi told Bloomberg. And more.
1. Takeda sells Shire’s Xiidra, transfers 400 staffers to Novartis in $3.4B deal
To help pay down debt, Takeda is offloading Shire’s dry-eye drug Xiidra to Novartis for $3.4 billion upfront, and it’s selling the TachoSil surgical patch to Johnson & Johnson’s Ethicon for about $400...