The Board of Directors at Allergan, the manufacturer of Restasis eye drops, formally rejected the unsolicited takeover bid from Quebec-based Valeant Pharmaceuticals.

 

Allergan says that the $52-billion offer in cash and stock undervalues the company and does not reflect its potential for growth. The Board has targeted a 20% to 25% increase in its earnings per share and expects a strong increase in revenue in 2015.

 

In a letter sent to his counterpart at Valeant, the CEO of Allergan also questioned how Valeant would achieve the level of cost cuts it is proposing without harming the long-term viability of Allergan. Valeant estimates that the acquisition will generate $3.3 billion in operating cost savings as a result of synergies.

 

Far from giving up, Valeant quickly responded, stating that the offer would be increased. The details are to be announced May 28. Furthermore, Pershing Square Capital Management, Valeant’s partner in this purchase offer, hopes to obtain the complete list of Allergan’s shareholders. Valeant would like to organize a “referendum” to determine whether shareholders want to see the two companies negotiate the merger. Valeant could even ask for a special meeting to be held to replace some or all of Allergan’s Board members.

Sources:

http://www.lesaffaires.com/secteurs-d-activite/sante-pharmaceutique-et-biotechnologies/allergan-rejette-l-offre-de-valeant/568801

http://eyewiretoday.com/view.asp?20140512-allergan_rejects_valeant_pharmas_cut_and_slash_takeover

Researchers from Indiana University have detected new early-warning signs of the loss of sight associated with diabetes.

 

“We had not expected to see such striking changes to the retinas at such early stages,” said Ann Elsner, lead author of the study, published in Biomedical Optics Express. “We set out to study the early signs, in volunteer research subjects whose eyes were not thought to have very advanced disease. There was damage spread widely across the retina, including changes to blood vessels that were not thought to occur until the more advanced disease states.”

 

These important early-warning signs were invisible to existing diagnostic techniques, due to optical imperfections of the eyes. Stephen Burns, professor and associate dean at the Indiana University School of Optometry, developed an instrument using small mirrors with tiny moveable segments to reflect light into the eye.

 

“It is shocking to see that there can be large areas of retina with insufficient blood circulation,” he said. “The consequence for individual patients is that some have far more advanced damage to their retinas than others with the same duration of diabetes.”

 

Further research will be needed to identify patients whose retinas are the most damaged, and to see whether the damage can be reversed.

Sources:

www.sciencedaily.com/releases/2014/04/140417090834.htm

http://www.opticsinfobase.org/boe/abstract.cfm?uri=boe-5-3-961

 

Essilor recently inaugurated its Centre for Innovation and Technologies Europe in Créteil, France, which is described as “the world’s largest private campus dedicated to research and innovation in the ophthalmic optics industry.”

 

Almost 900 people from R&D, Worldwide Operations, Global Engineering, Purchasing, Quality and Supply Chain are now working in close collaboration at this centre dedicated to innovation. Bringing these teams together at a single site is intended to foster collaboration and accelerate projects, as well as launch new products and technologies.

 

“The new centre is a powerful platform for developing tomorrow’s lenses, materials and coatings that will open new perspectives in terms of vision correction and protection, and take up the challenge of prevention and visual health,” says Hubert Sagnières, Essilor’s CEO.

 

Innovation is at the heart of Essilor’s business strategy. Each year, the company invests more than €150 million in research and innovation. About 40% of its revenue is generated from products launched less than four years ago.

 

Essilor, ranked by Forbes magazine for three years in a row among the world’s most innovative companies, has two similar centres in Dallas and Singapore.

Source:

http://www.essilor.com/en

 

 

 

The British Medical Journal Case Report describes how a man cured an eye lesion by diving head first into a wave at 70 km/h.

 

The man had developed a pterygium, also known as “surfer’s eye.” This conjunctival lesion particularly affects people who have had extensive exposure to UV rays. Extending to the cornea, pterygia cause irritations and can lead to visual impairment.

 

Pterygia are normally treated with surgery. However, a 61-year-old man decided to try an unexpected – and radical – method. Surfing a wave exceeding 10 m in height at 70 km/h, he dipped his face into the water with his eyes open. This manoeuvre removed the pterygium, which in his case had invaded the cornea through the limbic conjunctiva.

 

Dr. Thomas Gordon Campbell does not hide his astonishment in the article, published on March 26. “This impressive manoeuvre literally erased the lesion and the patient’s symptoms have improved,” he wrote. It only took a few days for the wound to completely heal. Dr. Campbell reminds anyone who may be tempted to imitate this man’s actions, however, that the best treatment is still traditional surgery.

Sources:

http://casereports.bmj.com/content/2014/bcr-2014-203896.full?sid=57e959be-03e2-480c-995f-cbb58a519a82

 http://www.acuite.fr/articles.asp?REF=9593

 

Alberta optometrists recently obtained the right to offer more eye services to respond to simple cases. They will therefore be able to prescribe certain drugs, order lab tests, apply ultrasound tests and treat certain types of glaucoma.

These changes should result in reduced wait times for consulting ophthalmologists. However, optometrists will first have to complete a certification program before they become authorized to provide these services and will subsequently have to undergo regular onsite practice reviews.

The Alberta College of Optometrists, of course, has applauded this measure by stressing the fact that delivering safe eye care remains a priority.

 

Source: Ici Radio-Canada.ca

http://ici.radio-canada.ca/regions/alberta/2014/04/29/006-optometristes-competences-soins.shtml