Novartis to co-promote Retisert with B&L

Australian bio-nanotechnology company pSivida says that its Retiser product licensed to Bausch & Lomb will be co-promoted in the USA by Novartis Ophthalmics, a business unit of Swiss drug major Novartis. Retisert, developed by pSivida, is the world's first intravitreal drug implant for the treatment of chronic non-infectious posterior segment uveitis, a sight-threatening condition that affects an estimated 175,000 people in the USA and an estimated 800,000 xworldwide.

pSivida receives royalties from B&L from sales of this product, which is presently priced at $18,250 for a treatment period of 30 months. It is covered by Medicare, as being eligible for Medicare pass-through payment under the Hospital Outpatient Prospective Payment System.