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.
July 11, 2006 |
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.