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Advanced Medical Optics Inc

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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.
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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.
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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 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
November 10, 2004 | Julie Tamaki, Times Staff Writer
Santa Ana-based Advanced Medical Optics Inc. said Tuesday that it had agreed to acquire Visx Inc. of Santa Clara, Calif., in a $1.27-billion deal that would allow Advanced Medical to expand its product line to include laser vision correction technologies. The deal, which sparked a rally in Visx shares in after-hours trading, would bring together two companies that hope to capitalize on recent advances in eye care and the demands of an aging population. Visx, the leading U.S.
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
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
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
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
November 10, 2004 | Julie Tamaki, Times Staff Writer
Santa Ana-based Advanced Medical Optics Inc. said Tuesday that it had agreed to acquire Visx Inc. of Santa Clara, Calif., in a $1.27-billion deal that would allow Advanced Medical to expand its product line to include laser vision correction technologies. The deal, which sparked a rally in Visx shares in after-hours trading, would bring together two companies that hope to capitalize on recent advances in eye care and the demands of an aging population. Visx, the leading U.S.
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
February 11, 2005
* Visx Inc., the Santa Clara, Calif.-based maker of laser vision correction equipment, reported a lower fourth-quarter profit because of merger-related expenses. Visx, which in November agreed to be acquired by Advanced Medical Optics Inc., posted a net profit of $5.9 million, or 11 cents a share, compared with $8.8 million, or 17 cents, a year earlier. Revenue rose 6% to $40.4 million.
BUSINESS
February 16, 2008 | From Times Wire Services
Advanced Medical Optics Inc. said it was cutting about 150 jobs, or 4% of its global workforce, to reduce costs. The job cuts and other restructuring activities will result in pretax charges of about $25 million to $30 million this year, the Santa Ana-based maker of eye-care products said in a regulatory filing. Advanced Medical Optics last year mounted, and later abandoned, a takeover bid for rival Bausch & Lomb.
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