Bausch + Lomb Corp is a global eye health company. They have agreed to purchase a dry-eye medication from Novartis for $1.75 billion. The medication is called Restasis. Restasis is used to treat moderate to severe dry eye syndrome. The acquisition is expected to be finalized in the latter half of 2023. Bausch + Lomb aims to expand their range of dry-eye products through this deal. Additionally, they intend to enhance their position in the eye care market.
Dry eye syndrome is a prevalent condition affecting millions of individuals worldwide. It occurs due to inadequate tears or tears with an improper composition. Symptoms include eye burning, itching, and redness.
Restasis is among the most effective treatments for dry eye syndrome. It functions by reducing eye inflammation. The medication is currently accessible in the United States, Canada, and Europe.
Bausch + Lomb has plans to continue developing Restasis and explore new applications for the drug.The company intends to allocate resources towards research and development for new dry-eye treatments. The acquisition of Restasis is a significant milestone for Bausch + Lomb.
Regulatory approval is required for the completion of the acquisition.
