Clearside Biomedical Reports Loss for Third Quarter and Provides Pipeline Update

By Staff
Tuesday, November 13, 2018 12:21 AM ALPHARETTA, Ga.—Clearside Biomedical Inc. (NASDAQ: CLSD), a biopharmaceutical company that develops treatments that restore and preserve vision, reported a net loss for the third quarter of $23.9 million. This compared with a net loss of $18.3 million for the third quarter of 2017. The increase in net loss was “primarily attributable to higher R&D expenses in the third quarter of 2018,” the company said in an announcement last week. The company reported no revenue for its third quarter, which ended Sept. 30.

Eye Health America Acquires Updegraff Laser Vision to Expand Southeast Presence

By Staff
Wednesday, November 7, 2018 12:24 AM ATLANTA—Eye Health America (EHA), an eyecare practice management company formed last year, has acquired Tampa Bay, Fla.-based Updegraff Laser Vision.

Bausch Health Reports ‘Organic’ Sales Growth Across All Business Segments

By Staff
Wednesday, November 7, 2018 12:21 AM LAVAL, Quebec—Bausch Health Companies (NYSE/TSX: BHC) reported Tuesday that its revenues totaled $2.14 billion in the third quarter, a decline of 4 percent ($83 million) compared with $2.22 billion in the year-ago period.

Allergan Reports Third Quarter Results Showing ‘Momentum’ in Core Business

By Staff
Wednesday, October 31, 2018 12:24 AM DUBLIN—Allergan plc (NYSE: AGN) reported Tuesday that its third quarter net revenues decreased 3 percent to $3.91 billion compared with the year-ago quarter as the loss of patent exclusivity on some brands weighed on top-line sales. The company also raised its full year sales and income guidance as sales of its “top-promoted products”—including Botox, Vraylar, Juvederm, Loestrin and Alloderm—are expected to drive revenue performance, according to the announcement. Sales of Restasis, a treatment for dry eye, declined 18.8 percent in the third quarter to $298.0 million, although the drop-off in sales during the quarter “were not as severe due to a delay in the launch of cheaper copycats of the dry eye treatment,” according to a Reuters report.

Update: Philadelphia-Based Vantage EyeCare Announces Addition of Three New Divisions

By Staff
Tuesday, October 30, 2018 12:24 AM PHILADELPHIA—Vantage EyeCare LLC, which was formed earlier this year with the intention of becoming the largest, private ophthalmology group in Pennsylvania, New Jersey and Delaware, has added three eyecare companies to its operations, according to an announcement Friday.

Safilo Group Confirms Execution of New €150 Million Financing Agreement

By Staff
Tuesday, October 30, 2018 12:21 AM PADUA, Italy—Safilo Group S.p.A.  confirmed on Monday a comprehensive refinancing plan announced on Sept. 26 this year, as VMAIL previously reported.

Essilor Posts 4.4 Percent Rise in 3Q Revenue

By Staff
Tuesday, October 23, 2018 12:30 AM CHARENTON-LE-PONT, France—EssilorLuxottica (Euronext Paris: EL), Essilor International’s new corporate name since it combined with Luxottica Group S.p.A. (MTA: LUX) on Oct., 1, 2018, posted a 4.4 percent increase in revenue, up 5 percent like-for-like, to €1.8 billion.

Luxottica's Q3 Net Sales Rise 3.5 Percent

By Staff
Tuesday, October 23, 2018 12:27 AM MILAN—Third quarter net sales for Luxottica Group S.p.A. (MTA: LUX) grew by 3.5 percent at constant exchange rates and 2.9 percent at current rates, driven by retail and e-commerce, the company reported.

J&J Reports 3.6 Percent Sales Increase in Q3 as Vision Care Turns in a Solid Performance

By Staff
Wednesday, October 17, 2018 12:24 AM NEW BRUNSWICK, N.J.—Johnson & Johnson (NYSE: JNJ), citing a strong performance across its pharmaceutical business, as well as a solid performance from the U.S. vision care segment, reported Tuesday that third-quarter sales rose 3.6 percent to $20.3 billion. Operational sales (which exclude currency factors) increased 5.5 percent, while domestic sales increased 3.6 percent. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 6.1 percent, domestic sales increased 3.9 percent and international sales increased 8.5 percent, according to J&J’s announcement.

SightMD Announces ‘Partnership’ With Mid Island Eye Physicians & Surgeons

By Staff
Wednesday, October 17, 2018 12:21 AM HAUPPAUGE, N.Y.—SightMD, a leading multi-specialty ophthalmology platform and a portfolio company of Chicago Pacific Founders, has announced a strategic partnership with Mid Island Eye Physicians & Surgeons. The partnership adds five physicians and one location in Bethpage, N.Y., to SightMD’s team of more than 50 physicians working across 25 locations in New York, according to the announcement. SightMD is backed by Chicago Pacific Founders, a leading middle-market private equity firm that focuses exclusively on partnerships with companies in health care services.

Sears Holdings Files for Bankruptcy Protection, Implements Leadership Changes

By Staff
Tuesday, October 16, 2018 12:27 AM HOFFMAN ESTATES, Ill.—Sears Holdings Corporation , a one-time icon of the U.S. retail sector, on Monday filed for Chapter 11 bankruptcy protection.

CEI Vision Partners Acquires Dayton-Based Ophthalmology Practice

By Staff
Tuesday, October 16, 2018 12:24 AM CINCINNATI—CEI Vision Partners (CVP), a leading ophthalmology services organization formed by Cincinnati Eye Institute and Revelstoke Capital Partners, has acquired Dayton Eye Associates in Dayton, Ohio. This is the first acquisition for CVP since it was formed in May 2018, according to an announcement late last week. The terms of the deal were not disclosed. Cincinnati Eye Institute (CEI), one of the largest ophthalmology practices in the country, announced the formation of CEI Vision Partners in partnership with Denver-based Revelstoke Capital Partners in May, as VMAIL reported.

SightMD Announces ‘Strategic Partnership’ With Lindenhurst Eye Physicians and Surgeons

By Staff
Friday, October 5, 2018 12:27 AM HAUPPAUGE, N.Y.—SightMD, a multi-specialty ophthalmology platform, has set up a “strategic partnership” with Lindenhurst Eye Physicians & Surgeons P.C., according to an announcement. The partnership “further solidifies SightMD’s position as the leading eyecare provider in Long Island,” and adds Lindenhurst Eye’s team of five ophthalmologists and two optometrists to SightMD’s team of more than 50 physicians. No details of the partnership agreement were disclosed. Lindenhurst Eye, founded in 1986 by Richard Nattis, MD, operates four locations on Long Island and offers a full suite of medical and surgical services, including laser cataract surgery, LASIK, treatment of corneal disorders, corneal transplants, pediatric ophthalmology, and treatment for retinal- and glaucoma-related conditions.

Planned Spin-Off Will Allow Alcon to Better Focus on Growth Strategies, CEO Endicott Says

By Staff
Thursday, September 13, 2018 12:24 AM FORT WORTH, Texas—The “new” Alcon that 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.

Cooper Cos Reports Overall Sales Gains for Q3, Cites Record CooperVision Revenues

By Staff
Friday, August 31, 2018 12:27 AM PLEASANTON, Calif.—The Cooper Cos (NYSE:COO) reported overall sales gains for the third fiscal quarter ended July 31, 2018. Revenue for the group rose 19 percent year-over-year to $660 million for the period. CooperVision (CVI) revenue rose 12 percent to $489.1 million while CooperSurgical (CSI) revenue climbed 44 percent to $170.9 million, the company said. Albert White, Cooper’s president and CEO said, "I'm very pleased with the progress we made this quarter. We had record revenue at CooperVision and CooperSurgical, and believe we are in a unique position to capitalize on current market dynamics to maintain our revenue momentum through operational investments which we believe will lead to continuing strong performance.”