October 11, 2003
B&L's eye system wins OK
Company aims to double its share of lasik vision surgeries.With approval from the Food and Drug Administration for its custom laser eye surgery system, Bausch & Lomb Inc. is aiming at doubling its share of procedures performed in the United States and boosting revenue from the surgeries. The FDA action, announced by the company Friday, gives approval for use of B&L’s Technolas 217z Zyoptix system for a somewhat broader range of vision problems than the company’s main competitors in the field, VISX and Alcon. Patients in clinical trials of Zyoptix also have had better results after lasik surgery than those reported by competitors, B&L says. “B&L will gain market share from weaker systems,” said Jason Mills, an analyst with investment firm First Albany. “But VISX is a tough competitor. It will be difficult to take share immediately. Over time, outcomes will determine share. If outcomes are meaningfully better with Zyoptix, more will go to B&L. Time will tell.”B&L is the third company to get FDA approval for a custom system. Alcon got the OK last October and VISX in May. VISX has almost a 50 percent share of the U.S. refractive surgery market, which includes lasik. B&L has about 10 percent. B&L Chief Executive Ronald Zarrella has set a target of 18 months to double the company’s market share. Industry experts estimate about 50 million Americans are candidates for laser vision correction. B&L would get more money for each procedure that uses Zyoptix. B&L has marketed the system outside the United States. Since 2001, surgeons have used the Zyoptix system to perform about 100,000 lasik procedures in Europe, Asia, Latin America and Canada.
EMKH
Posted by at October 11, 2003 03:01 PM