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Advanced Medical Optics Inc

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BUSINESS
May 30, 2007 | Daniel Yi, Times Staff Writer
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.
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BUSINESS
August 5, 2007 | From Times Wire Services
The Food and Drug Administration said it was concerned that consumers were still using a contact lens solution made by Advanced Medical Optics Inc. of Santa Ana that was recalled earlier this year. Regulators said several new cases of the potentially deadly infection known as Acanthamoeba keratitis, linked to the product, had been reported to the U.S. Centers for Disease Control and Prevention.
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BUSINESS
June 27, 2007 | From Times Wire Services
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.
BUSINESS
July 28, 2007 | From Times Wire Services
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.
BUSINESS
July 25, 2007 | From Times Wire Services
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."
BUSINESS
December 17, 2005 | From Bloomberg News
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.
BUSINESS
July 28, 2007 | From Times Wire Services
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.
BUSINESS
July 2, 2002 | Associated Press
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.
BUSINESS
July 11, 2006 | From Bloomberg News
Swiss eye-care products maker Alcon Inc. agreed to pay $121 million to Advanced Medical Optics Inc. of Santa Ana to settle patent disputes over equipment and methods used in cataract surgeries, Advanced Medical said Monday. Advanced Medical sued in 2003, claiming Alcon infringed patents awarded in 1997 and 2000 that cover the removal of clouded eye tissue through a needle using fluid and ultrasound. In one suit, a jury in Delaware awarded Advanced Medical $94.8 million.
BUSINESS
August 5, 2007 | From Times Wire Services
The Food and Drug Administration said it was concerned that consumers were still using a contact lens solution made by Advanced Medical Optics Inc. of Santa Ana that was recalled earlier this year. Regulators said several new cases of the potentially deadly infection known as Acanthamoeba keratitis, linked to the product, had been reported to the U.S. Centers for Disease Control and Prevention.
BUSINESS
July 25, 2007 | From Times Wire Services
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."
BUSINESS
July 6, 2007 | Daniel Yi, Times Staff Writer
Santa Ana-based Advanced Medical Optics Inc. offered more than $4 billion Thursday for larger rival Bausch & Lomb Inc., topping a previous bid from private equity firm Warburg Pincus. Bausch & Lomb's annual revenue of $2.3 billion is more than double that of Advanced Medical Optics, which has been on an aggressive buying spree to expand its reach.
BUSINESS
June 27, 2007 | From Times Wire Services
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.
BUSINESS
May 30, 2007 | Daniel Yi, Times Staff Writer
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.
BUSINESS
May 28, 2007 | From Reuters
Advanced Medical Optics Inc. is recalling its Complete MoisturePlus contact lens solutions and is calling on consumers to stop using them after data showed a higher risk of eye infections. The announcement late Friday followed AMO's recall of the same product last year because of bacterial contamination, and a recall by rival Bausch & Lomb Inc. after its contact lens solution was linked to infections. The U.S.
BUSINESS
May 26, 2007 | Daniel Yi, Times Staff Writer
A contact-lens solution made by Santa Ana-based Advanced Medical Optics Inc. has been linked to a serious eye infection that can lead to blindness, the Wall Street Journal reported on its website Friday. Health investigators with the U.S. Centers for Disease Control and Prevention have linked bacterial infections to Advanced Medical Optics' Complete MoisturePlus solution, the website said. Company and CDC officials could not be reached for comment.
BUSINESS
May 26, 2007 | Daniel Yi, Times Staff Writer
A contact-lens solution made by Santa Ana-based Advanced Medical Optics Inc. has been linked to a serious eye infection that can lead to blindness, the Wall Street Journal reported on its website Friday. Health investigators with the U.S. Centers for Disease Control and Prevention have linked bacterial infections to Advanced Medical Optics' Complete MoisturePlus solution, the website said. Company and CDC officials could not be reached for comment.
BUSINESS
May 28, 2007 | From Reuters
Advanced Medical Optics Inc. is recalling its Complete MoisturePlus contact lens solutions and is calling on consumers to stop using them after data showed a higher risk of eye infections. The announcement late Friday followed AMO's recall of the same product last year because of bacterial contamination, and a recall by rival Bausch & Lomb Inc. after its contact lens solution was linked to infections. The U.S.
BUSINESS
May 25, 2007 | From Reuters
Advanced Medical Optics Inc. said Thursday that it was interested in acquiring Bausch & Lomb Inc. and was willing to pay more than the $3.67-billion proposal the eye-care company accepted from a private equity firm. Bausch & Lomb agreed last week to be acquired by Warburg Pincus. Bausch & Lomb, however, had the right to solicit other offers during the next 50 days.
BUSINESS
July 11, 2006 | From Bloomberg News
Swiss eye-care products maker Alcon Inc. agreed to pay $121 million to Advanced Medical Optics Inc. of Santa Ana to settle patent disputes over equipment and methods used in cataract surgeries, Advanced Medical said Monday. Advanced Medical sued in 2003, claiming Alcon infringed patents awarded in 1997 and 2000 that cover the removal of clouded eye tissue through a needle using fluid and ultrasound. In one suit, a jury in Delaware awarded Advanced Medical $94.8 million.
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