 Swedish drugmaker, Novartis SWX: NOVN, said last week that it will no longer seek European approval for Xiidra dry-eye drug. According to Takeda Pharmaceutical TYO: 4502, Novartis decision is expected to result in a 162.50 million operating loss for the Japanese multinational pharmaceutical company. Earlier this year in April, Johnson Johnson also ditched plans of buying Takeda Pharmaceuticals TachoSil. Shares of Takeda dropped less than 2 on Monday. At 29.29 per share, it is just under 10 down year to date in the stock market after recovering from a low of 21.88 per share in March. Takeda Pharmaceutical is 