<p>Bausch + Lomb Corp will purchase a dry-eye drug from Swiss pharma company Novartis for $1.75 billion, the companies said on Friday, as the contact lens maker seeks to capitalise on a growing market for the disease's treatment.</p>.<p>Acquisition of the drug, Xiidra, will mark the first big deal by CEO Brent Saunders since he returned to the company in March.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/novo-nordisk-says-obesity-pill-leads-to-15-weight-loss-availability-to-be-determined-1231256.html" target="_blank">Novo Nordisk says obesity pill leads to 15% weight loss; availability 'to be determined'</a></strong></p>.<p>Sales of the anti-inflammation eye drop Xiidra, mainly from the US market, were $487 million last year, up 4 per cent. It faces competition from AbbVie's Restasis and cheaper copycat versions.</p>.<p>The deal will also include potential milestone payments worth up to $750 million.</p>
<p>Bausch + Lomb Corp will purchase a dry-eye drug from Swiss pharma company Novartis for $1.75 billion, the companies said on Friday, as the contact lens maker seeks to capitalise on a growing market for the disease's treatment.</p>.<p>Acquisition of the drug, Xiidra, will mark the first big deal by CEO Brent Saunders since he returned to the company in March.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/novo-nordisk-says-obesity-pill-leads-to-15-weight-loss-availability-to-be-determined-1231256.html" target="_blank">Novo Nordisk says obesity pill leads to 15% weight loss; availability 'to be determined'</a></strong></p>.<p>Sales of the anti-inflammation eye drop Xiidra, mainly from the US market, were $487 million last year, up 4 per cent. It faces competition from AbbVie's Restasis and cheaper copycat versions.</p>.<p>The deal will also include potential milestone payments worth up to $750 million.</p>