AMO Q4 eye care sales down year-on-year, but up from Q3
SANTA ANA, Calif. American Medical Optics’ eye care sales declined 34.6 percent to $171 million for 2007 with a 4.6 percent drop in the fourth quarter, the company announced last week. However, on a sequential basis, fourth-quarter eye care sales rose 19.9 percent, suggesting the category is rebounding from the recalled multipurpose solutions last year.
“This performance shows that we’ve succeeded in getting a competitive, complete, branded product back on the market all per the plans we outlined with you previously,” Jim Mazzo, AMO chairman and chief executive officer, told analysts.
According to the company, fourth-quarter multipurpose sales declined 16 percent to $20.1 million, which included approximately $3.8 million in returns and an estimated $29.2 million in lost sales related to the recall. For 2007, multipurpose sales declined 59.8 percent to $59.2 million, which included approximately $41.5 million in returns and an estimated $84 million in lost sales related to the recall. Sales declines in both periods were partially offset by the re-launch of Complete Easy Rub Multipurpose Solution, AMO reported. For the four weeks ended Jan. 15, Complete Easy Rub Multipurpose Solution held 6.7 percent of the U.S. branded multipurpose solution market, AMO reported, citing data from Information Resources, Inc. “Keep in mind also that our U.S. market share is yet to reflect the benefits of our professional selling efforts,” Mazzo said. “In October, we began sampling Complete Easy Rub care kits to doctors and rolling out patient educational tools that convey the importance of a rub and rinse regimen as the standard of care for contact lenses. We’re still in the early stages and our first priority has been eyecare professionals who previously used Complete. The reaction to the new product and standard of care messaging has been very positive. Our focus is to regain and grow our share of doctors’ recommendations in these offices so that we continue to grow retail market share.”
AMO also launched a dry eye product this month. Called Blink Tears, the product is formulated to relieve mild to moderate dry eye symptoms whether used alone or in conjunction with ocular pharmaceutical therapies. “Dry eye is a condition that affects patients of all ages so this product represents a true example of our complete refractive solution strategy at work,” Mazzo said. “As such we’ve trained the sales organizations of all three of our businesses to sell the product which we’re confident will be a key competitor in the $500 million dry eye marketplace.”
Reckitt Benckiser CEO says Adams acquisition may lead to U.S. markets
BERKSHIRE, England While there are no immediate plans to bring Boots Healthcare International across the pond to American markets, Adams Respiratory was acquired, in part, to afford Reckitt Benckiser the ability to do that, Bart Becht, Reckitt Benckiser chief executive officer, explained to analysts during a conference call last week.
“[Adams] was very strategic for us as a company because it’s one of the few targets that allows us to get a healthcare infrastructure in the U.S., which we don’t have. And to build that organically is extremely difficult and costly,” Becht said. “Financially it makes sense simply because the very high growth that is in that business. Clearly if this would have been an ordinary low-growth healthcare business, we would have bid a very different amount of money or we would have walked away from it. … It’s a high growth business.”
Reckitt Benckiser officially closed the Adams deal Jan. 30 in a deal valued at approximately $2.3 billion. As a result of the merger, Adams shares will be delisted and cease to trade on the NASDAQ Global Select Market.
Shaklee debuts three Cinch weight-loss products
PLEASANTON, Calif. Shaklee Corporation on Tuesday introduced three products to its Cinch Inch Loss Plan—two Cinch Meal-in-a-Bars (berry almond crunch and peanut butter chocolate chip) and a Cinch Strawberry Shake Mix.
Each bar contains as many as 270 calories, is fortified with 6 grams of dietary fiber and are both low-glycemic and kosher-certified. The Cinch Strawberry Shake contains 24 grams of protein and 35 percent of the daily value for 21 vitamins and minerals in addition to the 6 grams of dietary fiber.