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Allergan to Acquire Dry Eye Disease Company Oculeve PDF
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Companies
Tuesday, 04 August 2015

AllerganAllergan and Oculeve, a development-stage medical device company focused on developing novel treatments for dry eye disease, recently announced that they have entered into an agreement under which Allergan will acquire Oculeve in an all-cash transaction. Under the terms of the agreement, Allergan will acquire Oculeve for a US$125 million upfront payment and commercialization milestone payments related to Oculeve's lead development program OD-01. The agreement also includes the acquisition of an additional earlier-stage dry eye device development program.

The acquisition of Oculeve adds novel, complementary dry eye development programs to Allergan's current eye care research and development programs, including OD-01, a non-invasive nasal neurostimulation device that increases tear production in patients with dry eye disease. Oculeve has completed four clinical studies of OD-01 to date in more than 200 patients, showing positive safety and efficacy of the device. Allergan plans to conduct two additional pivotal trials prior to FDA submission, which is expected in 2016 with potential commercial launch in 2017.

 
Primary Health Care Sells Vision Eye Institute Shares PDF
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Australian News
Monday, 03 August 2015

Vision Eye InstitutePrimary Health Care Ltd recently announced that it has entered into an agreement to sell approximately 36 million shares in Vision Eye Institute Limited for a total cash settlement of approximately $34 million, by means of a binding share sale agreement with Jangho Group Co., Ltd, a public company listed on the Main Board of Shanghai Stock Exchange.

The purchase at 94 cents per share provides Jangho with a 19.9 per cent stake in Vision Eye Institute.

Vision Eye Institute also reiterates its advice to shareholders that they do nothing in regards to Pulse Health Limited's materially inadequate and opportunistic all-share takeover offer for Vision Eye Institute, which values Vision Eye Institute shares at 88 cents.

 
Essilor Reports Strong Results and Acquires Vision Source PDF
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Companies
Friday, 31 July 2015

Essilor has reported for the first-half 2015 that its revenue grew 9.4% excluding the currency effect and was driven by the following operational advances with revenue growth in the Lenses & Optical Instruments division of 4.7% over six months and of 4.9 % in the second quarter alone. The company also stated that it experienced solid growth in developed markets, especially the United States and Europe. It also mentioned that there is sustained expansion of its Online business and the ongoing reorganization of Coastal.com, with in particular the adoption of its new commercial identity under Clearly™. Essilor's business in Australia was buoyed by firm sales with independent eyecare professionals.

Furthermore, in the United States, Essilor entered into an agreement to acquire a majority stake in Vision Source, a national network providing services to independent optometrists. Last month, in Australia, Shamir (partly owned by Essilor) acquired a majority stake in Eyres Optics, a producer and distributor of prescription sunglasses and safety eyewear with annual revenue of around A$6 million.

 
Researchers Pinpoint Where Brain Unites Eyes' Double Vision PDF
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Ophthalmology and Optometry
Thursday, 30 July 2015

Bas RokersUsing prisms and an advanced brain scanner, Bas Rokers, psychology professor at the University of Wisconsin-Madison, and collaborators at Utrecht University in the Netherlands have found the point in the human brain - very early in image processing in the visual cortex - in which the transformation to a cyclopean view of the world takes place.

According to Rokers, a group of neurons in the visual cortex called the striate cortex, or V1, is handling two sets of pictures from our eyes - one view each from the left eye and the right eye. Move one step down the line to an area called V2, part of the extrastriate cortex, and the neurons have largely shifted to a single picture. The research clears up unsettled questions as to what purpose V2 serves in visual processing.

The researchers tucked people in functional MRI machines, and had them peer into a prismatic device that showed each eye a different image. For example, the left eye would see a vertical black bar slightly to the right of center, while the right eye saw the bar slightly to the left of center. Because the MRI results are sharp enough to discern the different brain activity signatures for each vertical bar, the researchers could compare brain activity when the bars were presented to each eye separately or both eyes together.

The researchers plan to shift their attention to finer layers of V1, as well as to an area called V3, with an eye toward figuring out where the brain brings depth and object shape into focus. Rokers expects that a better understanding of the way images are processed will help with ongoing research into disorders like lazy eye. In amblyopia, the most common cause of vision problems among children around the world, the brain learns to favor the images of a stronger eye over those from one that is weaker or misaligned.

Their work has been published recently in the journal Current Biology.

 
Luxottica Posts Record Q2 Earnings But OPSM Disappoints PDF
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Companies
Wednesday, 29 July 2015

LuxotticaIn the first half of the year, Luxottica Group continued to grow across markets and brands, posting a 22% increase in sales and 34% increase in net income, both on an adjusted basis. The Group continued to invest in its long-term success, with a focus on emerging markets, strengthening its retail segment and developing new distribution channels. In the second quarter of this year, the Group delivered adjusted sales growth of 21.4%, or +6.6% at constant exchange rates to Euro 2.5 billion, a record level for a single quarter.

However, the performance of Luxottica's retail division was mixed in the Asia Pacific region, due to the Australian market, where OPSM continued to post negative comparable store sales but Sunglass Hut delivered on the strong momentum seen throughout the second quarter of the year.

“We saw record sales and profitability in the second quarter, which was all the more satisfying considering the second quarter of last year was the strongest in 2014.” commented Adil Khan and Massimo Vian, Chief Executive Officers of Luxottica.

“The results were solid in every region, proving the global sustainability of our business model. North America continued the trend we saw in the first quarter with 6% growth on an adjusted basis at constant exchange rates, boosted by LensCrafters’ accelerating comparable store sales. Europe posted a remarkable +9%, notwithstanding the significant results reported in the second quarter of 2014. Emerging markets recorded 22% sales growth, experiencing high demand for our eyewear collections, particularly in China, Southeast Asia, Brazil and Mexico. We look at the second half of 2015 with confidence. The results of the first seven months of 2015, including July, came in strong and benefited from a good sun season, leading us to confirm our guidance for the full year. We believe the investments we’re making in the Group’s expansion, product and technological innovation and global talent will set us up for future success.”

 

 
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