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.
