US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
China Holds Loan Prime Rates Steady for 14th Month as Economic Recovery Remains Uneven 
Nvidia Reveals 9.3% Stake in AI Cloud Firm Nebius Following $2 Billion Investment 
NTSB Leads Investigation Into Ryanair Boeing 737 Engine Failure Over Greece 
Samsung Electronics America to Cut 739 New Jersey Jobs as Texas Headquarters Move Advances 
US Stock Futures Hold Steady as Tesla, Alphabet Earnings and Iran Conflict Dominate Market Focus 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Asian Currencies Hold Steady as Fed Outlook Offsets Middle East Tensions 
KKR, AEW Seek China Property Sales as Commercial Real Estate Slump Deepens 
Seven & i Eyes Żabka Stake in Major European Expansion Push 
Chalco Shares Jump as Chinalco Plans Up to $300 Million Stake Increase 
SpaceX Q2 Earnings on Aug. 4 Set Stage for Historic Insider Share Unlock 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Deutsche Bank Says Fed Balance Sheet Cuts Could Weaken US Dollar Instead of Boosting It 
Trump Threatens Higher Canada Tariffs as Wildfire Smoke Sparks U.S. Air Quality Crisis 
Foxconn Wins First SpaceX AI Server Contract Worth Estimated $52 Billion 
Bank of America Says These Overlooked AI Stocks Could Be the Next Winners 
Bausch + Lomb announces a $1.75 billion definitive agreement with Novartis to acquire XIIDRA dry eye treatment, positioning the Ontario-based eye health company as a leader in ocular surface diseases and bolstering its prescription dry eye unit.
With the purchase, Bausch + Lomb will have a considerable opportunity to grow its prescription dry eye unit further. Novartis AG is divesting its XIIDRA dry-eye treatment to the Swiss drugmaker, and the transaction value could go up to $2.5 billion with a $1.75 billion upfront payment.
In any case, Novartis acquired the XIIDRA product from Takeda for $3.4 billion in 2019. Pharmastar reported that under the helm of leadership of chief executive officer Vas Narasimhan, Novartis has been expanding the company by spinning off some of the low-growth business units, such as its Alcon eye care. It has plans to do the same for its Sandoz healthcare company subsidiary.
“This acquisition is a prime example of our strategy in action, as it provides needed scale for the company and transforms our pharmaceuticals business by making us a leader in ocular surface diseases,” Bausch + Lomb’s chairman and CEO, Brent Saunders, said in a press release. “The deal is also expected to accelerate margin expansion through a larger mix of pharmaceutical products in our portfolio, provide strong and immediate earnings accretion and presents a clear path to deleverage, making it financially compelling.”
Marguerite McDonald, M.D., F.A.C.S., OCLI Vision at Oceanside, N.Y., also explained that “Dry eye disease is multi-factorial and can stem from varying root causes, which means differing treatment options are needed. With the acquisition of XIIDRA and the recent approval of MIEBO, Bausch + Lomb enhances its approach to different facets of dry eye and is well positioned to ensure both medicines reach as many patients as possible.”
Photo by: Bausch & Lomb Website
