In November, it was reported that global healthcare company Novartis was considering the potential sale of its ophthalmology business.
Now, it is officially gauging interest from potential private equity and strategic bidders, according to a March 14 report from Bloomberg.
Deliberations are ongoing, and Novartis could still decide to keep its assets, including its dry eye medication Xiidra that did $487 million in sales in 2022.
In 2019, Novartis spun off its eyecare business Alcon, purchasing Xiidra in the same year.