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Pharmaceuticals
Novartis Licenses Ophthalmic Drug
by Ann M. Thayer
May 26, 2014
| A version of this story appeared in
Volume 92, Issue 21
Novartis has licensed non-U.S. rights to Ophthotech’s wet age-related macular degeneration drug Fovista. In exchange for rights to develop and sell Fovista, Novartis will pay $200 million up front as well as a potential $830 million in milestones. The drug, an anti-platelet-derived growth factor aptamer, is now in Phase III clinical studies. Novartis intends to sell it as a stand-alone product and develop a combination with an antivascular endothelial growth factor agent.
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