Novartis reaches agreement to buy Texas-based Encore Vision

By Joshua Franklin and Lauren Hirsch

Swiss drug maker Novartis AG said on Tuesday it had reached a definitive agreement to acquire Fort Worth, Texas-based Encore Vision, which is focused on developing a novel treatment in presbyopia, or far-sightedness.

“There is a large need for innovative, effective and safe treatment options for people with presbyopia, and there is currently no disease-modifying treatment available at all,” Vasant Narasimhan, Novartis’ global head, drug development and chief medical officer said in a statement.

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