As the year draws to a close, it is clear that molecular science and diagnostics is the hottest funding area in the biotech industry. In an analysis of 50 of the best-funded biotechs of 2023 focused on human health, molecular and science and diagnostics startups collectively attracting roughly $945 million, dwarfing the figures in other…
Astellas Pharma’s $1.7B Iveric Bio buy aims to bolster its ophthalmology market position
Astellas Pharma, the second largest Japanese pharma firm after Takeda, plans on scooping up the biopharma Iveric Bio for roughly $1.7 billion. Iveric focuses on discovering and developing novel therapies for retinal diseases, for approximately $1.7 billion. Astellas believes the acquisition of Iveric Bio will strengthen its standing in the ophthalmology market, by adding the…
Novartis mulls spinning off ophthalmology and respiratory divisions
As part of its ongoing restructuring efforts, Novartis AG (NYSE:NVS) is reportedly considering selling its ophthalmology and respiratory businesses, according to Bloomberg. Private equity firms are reportedly sizing up the business units. According to the company’s website, its core therapeutic areas are cardiovascular, hematology, solid tumors, immunology and neuroscience. Novartis’s ophthalmology division focuses on various therapies…