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Novartis licenses dry eye drug from Otsuka

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BASEL, Switzerland — Novartis has licensed the dry eye treatment rebamipide from Otsuka Pharmaceutical Company, according to a press release. The drug is being investigated in two phase 3 trials in the United States, Novartis noted.

According to Novartis, rebamipide is “expected to demonstrate a novel mechanism of action to enhance tear secretion and increase the levels of mucin covering the conjunctiva and cornea.”

Under terms of the agreement, Novartis will obtain an exclusive license with the right to sub-license the compound globally, excluding Japan and other Asian nations, the company said in the release. Novartis will pay up-front fees and annual royalties, the amounts of which were not announced.