May 30, 2007 |
Advanced Medical Optics Inc., seeking to become the nation's leading provider of eye-care treatments, may need to scale back its growth ambitions after a large-scale recall of one of its bestselling products, analysts said Tuesday. The Santa Ana-based company, spun off in 2002 from Irvine-based Allergan Inc., might do well to focus on the recall and rethink its bid for much bigger rival Bausch & Lomb Inc., analysts said.
June 27, 2007 |
Advanced Medical Optics Inc. forecast a loss this year after a link to a blinding eye infection forced the recall in May of its MoisturePlus contact lens solution. The company projected an adjusted deficit of 95 cents to $1.15 a share this year, excluding special items, after withdrawing its earlier profit forecast of $1.40 to $1.55. Analysts in a Bloomberg survey had estimated an average profit of $1.17.
July 25, 2007 |
Bausch & Lomb Inc. told eye-care products rival Advanced Medical Optics Inc. it needed to improve its takeover offer to compete with a $3.67-billion cash bid by a private equity firm. Unless Advanced Medical provides extra assurances about the "value and certainty of consummation" of its $4.2-billion cash-and-stock bid, the board of Bausch & Lomb said the offer "would not be likely to result in a superior proposal."
December 17, 2005 |
Alcon Inc., the world's largest maker of eye-care products, said a court awarded $213.9 million in damages to Santa Ana-based Advanced Medical Optics Inc. in a patent infringement lawsuit. A federal jury in Delaware ruled in May that Alcon was infringing Advanced Medical's cataract surgery patents. The jury awarded $94.8 million in damages at the time.
July 28, 2007 |
Advanced Medical Optics Inc. proposed two ways to demonstrate that its shareholders would support an offer to buy competing eye-care product maker Bausch & Lomb Inc. for $4.3 billion, after the second-largest investor balked. Advanced Medical is prepared to discuss the proposal with its main shareholders contingent on Bausch & Lomb's waiving a confidentiality deal, according to a letter to a committee of Bausch & Lomb's board. The letter was a response to one earlier this week from Rochester, N.
July 2, 2002 |
Allergan Inc., maker of the wrinkle-reducing compound Botox, completed its transition to a pure pharmaceutical firm as its eye-care unit began trading as a separate company. The new firm, Advanced Medical Optics Inc., makes eye and contact lens-care products, including Complete, Consept and Blink-n-Clean brands. Its ophthalmic surgical products are widely used in cataract surgery and Lasik procedures.