LAVAL, Quebec and SOPHIA ANTIPOLIS, France—Bausch + Lomb and Nicox S.A.—an international ophthalmic company—announced that the FDA has approved the New Drug Application (NDA) for Vyzulta, which reduces intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension.

"With today's approval of Vyzulta, our customers and their patients with glaucoma now have a new treatment option that can help provide consistent and sustained IOP lowering, the only modifiable risk factor that can help slow down the progression of the disease," said Joseph C. Papa, chairman and CEO, Valeant. "We expect to make this new advancement available for those who suffer with glaucoma before the end of the year."

Vyzulta was licensed on a global basis to Bausch + Lomb from Nicox. As a result of this approval, Nicox will receive $17.5 million from Bausch + Lomb and will make a $15 million payment to Pfizer under a previous license agreement.