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Novartis to bolster eye business with Encore Vision acquisition

Novartis AG is acquiring privately held Encore Vision Inc. to add a treatment for presbyopia to its ophthalmology pipeline.

Texas-based Encore Vision is developing EV06, a topical treatment for presbyopia, which is the age-related loss of near-distance vision. More than 80% of adults over the age of 45 develop presbyopia with currently no treatments existing.

Novartis did not disclose the terms of the acquisition, which is subject to customary closing conditions, including regulatory approval.