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Novartis exercises license for eye drug

A Novartis AG unit exercised its option to in-license ECF843 from Lubris LLC for ophthalmic indications in all regions outside Europe.

ECF843, which underwent a small phase 2 study, is being developed as a potential treatment for dry eye, an eye syndrome caused by chronic lack of moisture on the eye surface.

Novartis International AG already has several drugs to treat dry eye conditions including Systane, Tears Naturale, and Genteal. It did not disclose the financial terms of the transaction.