Allergan Crosses The Last Frontier in Ophthalmology
This article was originally published in Start Up
Executive Summary
Ophthalmology companies have long recognized that many people will pay for the benefit of being able to see without wearing glasses. The success of LASIK laser surgery has borne this out, but that market is maturing. Presbyopia, the disorder that causes people to need reading glasses as they get older, isn't helped by laser surgery. It can, however, be helped by intraocular lenses. With Allergan's recent CE approval of an intraocular lens for presbyopia, ophthalmology companies see a new market to capitalize on.
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Ophthalmology's Next Frontier
Millions of middle-aged and soon-to-be elderly people worldwide are running headlong into vision problems, and this looming patient pool is already beginning to steer the future course of physician practice and research and development dollars. The potential for huge rewards is certainly present for developers of safe, effective new therapies for disorders of the aging eye.
Carl Zeiss Steps Up in Ophthalmics
Long part of a German foundation dedicated to improving optical science, Carl Zeiss Meditec has transformed itself into a more entrepreneurial entity, hoping to capitalize on the booming ophthalmics market. For Zeiss, the timing couldn't be better--driven by soaring demographics and new technology, the industry is hot. Plus an industry ripe for consolidation plays well into Zeiss' plans. The only question is: does Zeiss' foundation heritage help or hinder its efforts?
AMO Puts a New Spin on Ophthalmic Devices
Once part of Allergan, Advanced Medical Optics was spun off when its parent company wanted to focus on pharmaceuticals. Executives of the new company believe that life as an independent medical device company gives it the freedom to operate and the focus it needs to thrive in the ophthalmic device market.
In the spin-out, AMO got market-leading brands with an almost 40 year history, an ophthalmic sales force that has just about the longest continuity in the industry, and strong management with a track record more than two decades long.
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