June 30 (Reuters) - Bausch + Lomb (BLCO.TO) said on Friday it would acquire several Novartis (NOVN.S) eye-care products for $1.75 billion as their market grows, sending the company's shares up over 8% in early trading. The deal includes acquisition of Novartis' anti-inflammation eye drop Xiidra, experimental drug libvatrep for chronic ocular surface pain, and rights to use the Swiss pharma company's AcuStream dry-eye drug delivery device. It is expected to close by the end of this year and will boost the company's earnings, the company said. Novartis said it would continue to supply Xiidra on behalf of Bausch + Lomb for a "limited period" after the deal closes to ensure consistent supply to patients. Sales of Xiidra, mainly in the U.S. market, stood at $487 million in 2022, up 4% from a year earlier.

Source: Wall Street Journal June 30, 2023 11:48 UTC