Alcon (ALC) Clareon Suite to Get a Boost With Product Launch

Alcon ALC recently announced the U.S. introduction of its Clareon Toric intraocular lens (IOL) at the upcoming American Academy of Ophthalmology (AAO) 2022 annual meeting in Chicago. With this, the company will complete offering its extensive Clareon portfolio in this region.

Clareon Toric IOL, which is a glistening-free toric intraocular lens, is claimed to provide exceptional clarity and unbeatable stability. Clareon Toric is based on STABLEFORCE Haptics technology, with demonstrated superior rotational and axial stability when compared to TECNIS+ and enVista.4,5+.

Alcon noted that Clareon Toric and Clareon Monofocal consistently deliver a broad refractive landing zone and provide functional intermediate vision while maintaining the expected 20/20 visual acuity at a distance.

With the latest launch, the Clareon Collection of IOLs is complete and includes Clareon Monofocal, Clareon Toric, Clareon PanOptix, Clareon PanOptix Toric, Clareon Vivity and Clareon Vivity Toric. These products are available in UV-absorbing and blue light filtering foldable options in the United States.

In the same company release, Alcon also announced that its Fidelis Virtual Reality Ophthalmic Surgical Simulator (introduced in select markets in May) is currently available for pre-order in the United States.

Fidelis, per Alcon, provides a high-fidelity, virtual operating room environment with haptic feedback.

The company stated that at AAO, it will successfully showcase its cloud-based connected technologies with ARGOS. It is the fastest-growing biometer in the United States. Other key offerings at AAO include a text-driven patient engagement tool with demonstrable ROI for ophthalmology practices.

Alcon's Innovation Update

In Presbyopia-correcting Intraocular Lens (PCIOLs), Alcon currently leads the market with over 60% of the global share and over 80% share in the United States. In Surgical, the company maintained a strong market share in PCIOLs, solidifying its market-leading position, driven by strong demand for products like PanOptix and Vivity despite new market entrants. Vivity's non-defractive properties, ease of use and consistency of surgical outcomes make it particularly appealing. In 2021, the company added Hydrus Microstent to its portfolio of implantable devices.

In 2022, the company launched the Clareon portfolio of intraocular lenses (IOLs) in the United States, including the ClareonMonofocal, PanOptix, and Vivity IOLs.

In the equipment business, the company is gaining from strong demand for its cataract equipment, including upgrades to Centurion and sales of Legion in international markets. The company is also seeing solid uptake for Argos biometer. Further, Alcon continued the U.S. introduction of SMARTCataract Planner in the quarter under review.

In Vision Care, Alcon is expanding its contact lens offerings to the premium and middle-market segments by launching a steady stream of new silicone hydrogel daily and reusable products. The company is currently seeing strong demand for Precision1 family lenses, Total30 and Dailies Total1 for astigmatism. Alcon is particularly optimistic about having two SiHy toric lenses in the market, Precision1 for astigmatism, which is aimed at the mainstream market, and Dailies Total1 for astigmatism for the premium segment.

Current Status of Other Ophthalmology Players

National Vision EYE, a major competitor of Alcon, currently plans to continue executing on core growth initiatives and further investing in strengthening competitive advantages. The company opened 22 stores in the second quarter, including its 13 hundredth location, and now operates over 1000 stores in its two growth brands. During the reported quarter, the company once again noted about its target to open at least 80 stores in 2022 and currently has a solid pipeline of specific locations for this year and into 2023.

For 2022, the company is focused on new initiatives related to optometrists' compensation and recruitment. The company is on track to operate remote medicine in up to 300 stores by the end of 2022. The company is also focused on being a key low-cost provider.

In the first six months of 2022, the company incurred $56 million in capital expenditures primarily focused on new stores and customer-facing technology investments. The company is also on track for capital expenditures in the range of $110-$115 million in 2022 as it continues to invest in key growth initiatives.

The Cooper Companies COO on the other hand, maintained its leading position in the markets of specialty lenses, supported by highly exclusive products of Biofinity and Clariti. In fact, the company’s flagship silicone hydrogel lenses are also expected to deliver strong sales in the coming quarters. The company is witnessing substantial growth across CooperVision’s Toric, Multifocal, single-use sphere and non-single-use sphere sub-units.

EyePoint Pharmaceuticals EYPT, another peer of Alcon, is focused on developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders. Currently, the company has two commercial products: DEXYCU — the first approved intraocular product for the treatment of postoperative inflammation and YUTIQ — a three-year treatment of chronic non-infectious uveitis affecting the posterior segment of the eye. The company continues to witness higher demand for both its commercial products.

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