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Valeant's Bausch + Lomb Imaging System Cleared by FDA - Analyst Blog

Zacks Equity Research
Updated

Valeant Pharmaceuticals International, Inc. (VRX) announced that its wholly owned subsidiary, Bausch + Lomb, has received a 510(k) clearance from the FDA for its imaging system.

The FDA cleared Bausch + Lomb’s advanced Swept Source OCT (Optical Coherence Tomography) imaging system and updated software for its Victus femtosecond laser platform that will provide surgeons with a new, redesigned interface.

The system provides high-resolution imaging of the entire surgical procedure, thereby increasing incision depth, details and detailing the architecture of accurate incisions.

The interface is aimed to boost efficiency and patient flow during surgical procedures by allowing rapid but easier customized treatment planning.

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We remind investors that the Victus platform had received CE mark in Nov 2011 and the FDA had cleared it in Jul 2012. Thereafter, Valeant has been installing Victus platforms in leading surgery centers on a global basis. The platform also received CE marks for corneal incisions, penetrating keratoplasty and creation of intrastromal channel incisions for intracorneal ring segments.

We note that Valeant had acquired Bausch + Lomb in Aug 2013 in an attempt to strengthen its ophthalmology business, which used to be a miniscule portion of Valeant’s overall portfolio.

Meanwhile, the company provided outlook for 2015 earlier in the month. Organic growth for Bausch+Lomb is projected above 10%. Valeant’s aggressive pursuit of acquisitions over the last two years, which contributed to its solid growth, is expected to continue through 2015. Organic growth looks encouraging as well, especially in dermatology, contact lens and Asia.

We are impressed by the company’s positive outlook for 2015 and expect strong performance this year. The company has quite a few launches lined up for 2015 in the consumer and surgical businesses in the U.S.

Valeant carries a Zacks Rank #2 (Buy). Other favorably placed stocks in the health care sector include Biodel Inc (BIOD), Shire (SHPG) and Sucampo Pharmaceuticals (SCMP). While Biodel is a Zacks Rank #1 (Strong Buy), the other two carry the same rank as Valeant.


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