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Recall backlash hits Advanced Medical Optics, while Smith & Nephew, Intuitive record positive earnings

This article was originally published in Clinica

Executive Summary

Advanced Medical Optics was severely affected by the recall of its Complete MoisturePlus contact lens solution in May, and reported a widening of its loss in the second quarter. The Santa Ana, California-based company recorded an increase in its cataract and laser vision correction sales, but an approximate 72% fall in eyecare products sales meant overall revenue moved up by only 1.7%, to $261.4m. AMO recorded a $127.9m operating loss, which including an $85.4m R&D charge.

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