Ophthotech Could Receive $1B+ in Novartis Eye Drug Agreement
According to a Reuters article, Ophthotech Corp. could potentially receive more than $1 billion in payments as part of a licensing deal for its experimental eye drug with Novartis AG. The company said that a unit of Novartis will market its lead experimental eye drug, Fovista, outside the United States.
Ophthotech said it could receive immediate and near-term milestone payments of up to $330 million and is eligible to get ex-US marketing approval and sales milestone payments of up to $700 million. Read the full story