Contact Lens News

  1. MULLICA HILL, N.J—OcuMedic, Inc., the first developer of therapeutic lens for the delivery of drugs for the global ophthalmic market, announced their Contact Drug Delivery System, received a patent by the European Patent Offices, according to a release from the company. The patent will cover all intellectual property of the company’s timed-released delivery of drugs directly to the eye through prescription soft-contact lenses. President and CEO of OcuMedic, Inc., Keith D. Ignotz, said, “The European patent extends the company’s intellectual property coverage to the important European market valued at $16.7 billion annually, growing by 5.6 percent CAGR by 2023, according to Allied Market Research.
  2. FORT WORTH, Texas—The “new” Alconthat emerges from a planned spin-off from Novartis(NYSE: NVS) in the first half of 2019 will look much like “a $7 billion start-up” with a rapt focus on innovation and R&D as it attempts to address ongoing changes in the delivery of eyecare, chief executive officer David Endicott said this week at the company’s Innovation for Better Vision session.
  3. NEW BRUNSWICK, N.J.—Johnson & Johnson (NYSE: JNJ) on Tuesday reported that its sales rose 10.6 percent to $20.8 billion in the second quarter, due in part to a 19.9 percent sales increase in its pharmaceutical business segment. On an operational basis, the company’s overall sales increase was 8.7 percent, and the positive impact of currency was 1.9 percent, according to the announcement. Domestic sales increased 9.4 percent, while international sales rose 11.8 percent, reflecting operational growth of 7.9 percent and a positive currency impact of 3.9 percent.
  4. FORT WORTH, Texas—Alcon expects to build upon its 70 years of history in this Texas metro area following its spinoff from parent company Novartis in 2019, the eyecare group’s new chief executive officer has said. “Fort Worth is where Alcon was born more than 70 years ago, and we look forward to building on our legacy here following the proposed spinoff,” chief executive officer David Endicott said in a statement to the Star-Telegram of Fort Worth earlier this week.
  5. CARLSBAD, Calif.—The board of directors of SynergEyes, Inc. has appointed Bob Ferrigno as chief executive officer, effective June 27.
  6. BRIDGEWATER, N.J.—Bausch + Lomb, a leading global eye health company, announced that it has entered into a worldwide licensing agreement with Tangible Science, LLC, a company whose mission is to create technologies that improve the contact lens wearing experience.
  7. CARLSBAD, Calif.—SynergEyes, a leading hybrid specialty contact lens company, announced a new partnership with the Brien Holden Vision Institute,  the leading translational vision correction center which delivers advanced, customized vision correction for myopes and presbyopes. The exclusive worldwide licensing agreement will enable the manufacturing of design technologies developed by Brien Holden Vision Institute, augmenting the SynergEyes presbyopic package by offering the latest designs on the hybrid contact lens platform. With around half of the world’s population predicted to be myopic by 2050, and with the U.S. Baby Boomer generation now fully presbyopic, it is crucial that technological innovation in contact lens design and manufacturing is translated into high performance products to manage these visual deficiencies, the announcement said.
  8. CORAL SPRINGS, Fla.—ABB Optical Group recently hosted its national sales meeting in Orlando with a focus on the growth of the eyecare industry.
  9. CORAL SPRINGS, Fla.—ABB Optical Group, which supplies optical products and services for the eyecare industry, has agreed to acquire Glimpse Live, according to an announcement.
  10. NEW YORK—Simple Contacts, an eyecare telemedicine company, announced $16 million in funding from Waypoint Capital Partners, with participation from returning investors Goodwater Capital, Steven Cohen, executives from Flatiron Health and some ophthalmologists.