Eucure Biopharma Acquires China Rights to Two Ophthalmic Products from Novartis
Ocumension
Ophthalmic Treatment Drug Developer
Novartis
Drug Development and Manufacturing
On August 24, Ocumension Therapeutics announced that its wholly-owned subsidiary, Ocumension Hong Kong, entered into an Asset Purchase Agreement with Novartis,will pay USD 35 million to acquire all rights in mainland China to the two ophthalmic drugs Alomide (emedastine difumarate ophthalmic solution) and Betagan (betaxolol hydrochloride ophthalmic solution), and obtain the transfer of the corresponding manufacturing technologies.
It is reported that Emedine is a sterile ophthalmic solution containing emedastine (a relatively selective H1 receptor antagonist), intended for topical ophthalmic administration, and is indicated for the treatment of allergic conjunctivitis and the temporary relief of its signs and symptoms. Beitangshu is a sterile ophthalmic suspension containing betaxolol (a competitive β(1)-selective adrenergic antagonist), intended for topical ophthalmic administration, and is indicated for the reduction of intraocular pressure associated with chronic open-angle glaucoma or ocular hypertension.