Bausch Health to Acquire Option to Purchase Assets of Allegro Ophthalmics

By Staff
Tuesday, September 22, 2020 12:27 AM LAVAL, Quebec and SAN JUAN CAPISTRANO, Calif.— Bausch Health Companies and Bausch + Lomb, its leading global eye health business, and Allegro Ophthalmics LLC,  a privately held biopharmaceutical company, announced Monday that Bausch Health (through its affiliate) has entered into an agreement to acquire an option to purchase all ophthalmology assets of Allegro.

Santen to Acquire Topical Ophthalmic Products Company Eyevance for $225 Million Under Terms of Share Purchase Agreement

By Staff
Tuesday, September 22, 2020 12:24 AM OSAKA, Japan and FORT WORTH, Texas—Santen Pharmaceutical Co. Ltd.and Eyevance Holdings have announced that Santen Holdings U.S. Inc., a wholly-owned subsidiary of Santen, and Eyevance Holdings entered into a share purchase agreement where Santen Holdings acquires all of the outstanding shares of Eyevance Pharmaceuticals Holdings.

MetLife to Acquire Versant Health for $1.7 Billion

By Staff
Thursday, September 17, 2020 9:22 AM NEW YORK— MetLife Inc. (NYSE: MET) has entered into a definitive agreement to acquire Versant Health from an investor group led by Centerbridge Partners and including FFL Partners for approximately $1.675 billion in an all-cash transaction, according to an announcement Thursday morning. Versant Health owns the well-established marketplace brands Davis Vision and Superior Vision. Following the acquisition, MetLife will gain access to Versant Health’s roughly 35 million members, and MetLife’s existing customers will gain access to Versant Health’s extensive provider network, which is one of the largest in the industry.

CooperCompanies Notes Positive ‘Momentum’ Trend in July-August, But Overall Sales Slip in Third Quarter

By Staff
Friday, September 4, 2020 12:27 AM SAN RAMON, Calif.—Citing the ongoing impact of COVID-19, CooperCompanies (NYSE: COO) on Thursday reported that its third-quarter revenue decreased 15 percent year-over-year to $578.2 million, with CooperVision (CVI) revenue falling 12 percent to $449.3 million and CooperSurgical (CSI) revenue dropping 24 percent to $128.9 million.

Jobson Research's 2020 Eye Care Professional Income Study Is Available

By Staff
Friday, August 28, 2020 12:15 AM NEW YORK—Jobson Research’s 2020 Eye Care Professional Income study is now available. The annual study provides the average income for optometrists, opticians/dispensers and optical office managers in the U.S. based on their 2019 earnings.

Warby Parker Receives Additional $245 Million Investment, Sources Peg Company's Valuation at $3 Billion

By Staff
Thursday, August 27, 2020 3:09 PM NEW YORK—Warby Parker announced today a $245 million fundraising, with investment from D1 Capital Partners, Durable Capital Partners, T. Rowe Price, and Baillie Gifford. According to a source familiar with the company's financing, the new investment values the e-commerce/brick-and-mortar retailer at $3 billion. The company previously raised a total of $290 million, including, as VMAIL reported in March 2018, a $75 million investment.

Citing Impact of COVID-19, Alcon Reports Lower Sales for Second Quarter and First Half

By Staff
Wednesday, August 19, 2020 12:15 AM GENEVA—Alcon (SIX/NYSE:ALC), a global leader in eyecare, reported Tuesday that its second-quarter worldwide sales, which were impacted by COVID-19, fell 36 percent (34 percent at constant currency) to $1.2 billion, but noted that it achieved “sequential monthly improvements since April, driven by the global recovery” around the coronavirus pandemic. Alcon also noted that it has recorded “continued progress on strategic initiatives and [its] innovation roadmap” during the first half of 2020. The results for the quarter and half year ended June 30 also showed overall worldwide sales totaling $3.0 billion, a drop of 17 percent (15 percent on a constant currency basis) compared with the first half of 2019, “with the COVID-19 related decline in the second quarter offsetting a strong start to the year,” the announcement noted.

TearClear Raises $22 Million to Advance Clinical Programs in Development and Names Raetzman as a Director

By Staff
Wednesday, August 12, 2020 12:21 AM BOSTON—TearClear, an emerging ophthalmic pharma company working to disrupt the way topical medications are delivered to the ocular surface, has raised $22 million in a Series B funding round, according to an announcement Tuesday.

GrandVision Confirms EssilorLuxottica Has Taken Measures to ‘Secure Certain Information’ Stored on its Servers

By Staff
Friday, August 7, 2020 12:21 AM SCHIPHOL, The Netherlands—GrandVision NV (Euronext: GVNV), in what it called “a response to market rumors,” said Thursday that it was “confirming that EssilorLuxottica SA (Euronext: EL) has taken measures to secure certain information stored on servers of GrandVision.” The actions are in “connection with the summary proceedings previously initiated by EssilorLuxottica regarding GrandVision's actions to mitigate the impact of COVID-19 on its business,” the announcement noted.

Bausch Health Announces Plan To Spin Off Its Eye Health Business Into an Independent Public Company

By Staff
Thursday, August 6, 2020 8:55 AM LAVAL, Quebec—Bausch Health Companies Inc.  (NYSE/TSX: BHC) this morning announced a plan to spin off its leading Bausch + Lomb eye health business into an independent publicly traded entity separate from the remainder of Bausch Health. The spinoff will establish two separate companies, including a fully integrated, pure play eye-health company built on the iconic Bausch + Lomb brand and long history of innovation. The remaining Bausch Health company would be a diversified pharmaceutical company with leading positions in gastroenterology, aesthetics/dermatology, neurology and international pharmaceuticals, according to Thursday’s announcement.

GrandVision Reports Steep Sales Declines in First Half and Second Quarter

By Staff
Thursday, August 6, 2020 12:27 AM SCHIPHOL, the Netherlands—GrandVision NV (Euronext: GVNV) reported Wednesday that its revenue declined 26.4 percent at constant exchange rates in the first half, and fell 47.5 percent in the second quarter of 2020. The international retailer, which operates the For Eyes optical banner in the U.S. market, cited the impact of store closures related to the coronavirus pandemic as the key factor in the lower sales. Comparable revenue declined 29.1 percent in the first half and 49.3 percent in the second quarter, the company’s announcement noted.

Kering Group and Kering Eyewear Report Sharp Impact on Q2 Sales

By Staff
Wednesday, July 29, 2020 12:30 AM PARIS—Kering Group (PARIS: KER), the global luxury group overseeing fashion brands Gucci and Saint Laurent, among others, reported overall consolidated revenue for the first six months of the 2020 fiscal year of €5,378.3 million, down 29.6 percent as reported and 30.1 percent on a comparable basis. The company also reported net income for the Group of €272.6 million and recurring net income for the Group of €569.3 million.The impact of the coronavirus pandemic was pronounced in the second quarter of the year, the company said, reflecting consolidated revenue of €2,175.1 million in the second quarter, down 43.5 percent as reported and 43.7 percent on a comparable basis.
 

Hoya Says Pandemic Significantly Impacted 1Q Eyeglass Lens, Contact Lens and IOL Sales

By Staff
Wednesday, July 29, 2020 12:27 AM TOKYO—Hoya Group (7741:JP) posted sales for the first quarter of the consolidated fiscal year ending June 30, 2020 of 109,327 million yen, a decrease of 22.4 percent compared to the same period in the prior fiscal year. Quarterly profit before tax amounted to 31,942 million yen with 25,629 million yen in profit, representing year-on-year decreases of 13.8 percent and 15.0 percent, respectively. Profit before tax ratio was 29.2 percent, representing a year-on-year increase of 2.9 points.

European Commission Suspends Aug. 27 Deadline to Complete Review of EssilorLuxottica’s Proposed Acquisition of GrandVision

By Staff
Monday, July 27, 2020 12:21 AM NEW YORK—The European Commission regulators charged with reviewing the proposed acquisition of GrandVision (Euronext: GVNV) by EssilorLuxottica (ISIN: FR0000121667) moved last week to suspend its Aug. 27 deadline for completing its review of the transaction. The European Commission’s competition regulator body did not give details for the move. The deadline already had been pushed back three times in order to give regulators more time to review the transaction.

EssilorLuxottica Starts Legal Proceedings For More Info From GrandVision

By Staff
Monday, July 20, 2020 8:11 AM CHARENTON-LE-PONT, France and SCHIPOL, The Netherlands—EssilorLuxottica (ISIN: FR0000121667) announced on Saturday morning in Europe that it started legal proceedings in the Netherlands to obtain information from takeover target GrandVision NV (Euronext: GVNV) on how it performed during the coronavirus crisis. In its July 18 statement, EssilorLuxottica said, "This is to assess the way GrandVision has managed the course of its business during the COVID-19 crisis, as well as the extent to which GrandVision has breached its obligations under the support agreement. Despite repeated requests, GrandVision has not provided this information on a voluntary basis, leaving EssilorLuxottica with no other option but to resort to legal proceedings."