Novartis Korea has reportedly launched an early retirement program (ERP) for employees in its ophthalmology division as part of a broader strategy to focus on innovative drug development. The company is also preparing to transfer marketing rights for its macular degeneration treatments, with Santen Korea emerging as the likely successor.

According to industry sources on October 10, Novartis Korea is implementing the ERP and proceeding with the transfer of rights for Lucentis (ranibizumab) and Beovu (brolucizumab).

This restructuring aligns with Novartis’ global initiative to prioritize breakthrough medicines. In 2022, the company dissolved its respiratory division in Korea and transferred its product rights to Handok. Then, in December 2023, Novartis sold nine ophthalmic products—including Patanol, Pataday, and Pazeo—to Jeil Pharmaceutical while conducting an ERP that affected 20 of its 43 ophthalmology employees.

The latest move suggests that Novartis is winding down its macular degeneration portfolio amid intensifying market competition led by Bayer’s Eylea (aflibercept) and the growing presence of biosimilars. IQVIA data show that in the first half of this year, Lucentis recorded sales of $3.27 million and Beovu $9.81 million, far behind Eylea’s revenue of over $21 million.

Analysts expect Novartis to dissolve its ophthalmology unit entirely and focus resources on its innovative drug pipeline.

Santen Korea, a specialty ophthalmic pharmaceutical company, is reportedly in talks to acquire the rights to Lucentis and Beovu. Its portfolio currently includes glaucoma treatments such as Rhopressa and Taflotan, and dry-eye therapies like Hyalein and Diquas. If the deal is finalized, Santen would secure its first macular degeneration treatment lineup, broadening its reach across ophthalmic indications. Industry observers also anticipate that some Novartis staff may transition to Santen as part of the handover.

When contacted, a Novartis spokesperson stated, “We are unable to comment at this time.”

Currently, major macular degeneration treatments available in Korea include Eylea (Bayer Korea), Avastin, and Vabysmo (both Roche Korea). Among them, Eylea dominates with $27 million in sales, followed by Vabysmo at $3.36 million. Avastin continues to be prescribed off-label.