LAVAL, Quebec, Oct. 3, 2013 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) and Bausch + Lomb announced today that the U.S. Food and Drug Administration (FDA) has issued marketing clearance for Bausch + Lomb's newest frequent replacement silicone hydrogel contact lenses made with MoistureSeal™ Technology. Representing the category's first new innovation in frequent replacement silicone hydrogel technology in seven years, this novel technology combines a breakthrough material with new manufacturing processes to produce a contact lens that offers superior comfort and vision.[i]
"We are encouraged to receive this significant marketing clearance much sooner than originally expected," stated J. Michael Pearson, chairman and chief executive officer of Valeant. "When paired with Biotrue ONEday – our premium daily disposable contact lenses launched last year – we believe this new technology will begin to build an improved contact lens business by providing contact lens wearers with unsurpassed comfort and vision throughout the day."
MoistureSeal™ Technology is the latest vision care innovation from Bausch + Lomb building on the track record of breakthrough innovations including Biotrue ONEday contact lenses and Biotrue Multi-Purpose Solution.
Bausch + Lomb's frequent replacement silicone hydrogel contact lens is only available with a prescription from an eye care professional.
About Valeant Pharmaceuticals International, Inc.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology, and branded generics. More information about Valeant Pharmaceuticals International, Inc. can be found at www.valeant.com.
About Bausch + Lomb
Bausch + Lomb is one of the best-known and most respected healthcare companies in the world. Its core businesses include contact lenses and lens care products, ophthalmic surgical devices and instruments, and ophthalmic pharmaceuticals. Founded in 1853, the company's products are available in more than 100 countries. More information is available at www.bausch.com.
This press release may contain forward-looking statements, including, but not limited to, statements regarding the growth of the Bausch + Lomb contact lens business, the use of the new contact lens by eye care professionals and the benefits of such lenses to users. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the market acceptance of the new contact lens and the risks and uncertainties discussed in the Company's most recent annual or quarterly report and detailed from time to time in Valeant's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
[i] Results from a 22-investigator, multi-site study of Bausch + Lomb contact lenses with MoistureSeal technology, with a total of 380 eligible subjects. After 7 days of wear, subjects completed an online survey. Subjects rated Bausch + Lomb contact lens performance across a range of attributes and compared the performance to their habitual lenses.
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SOURCE Valeant Pharmaceuticals International, Inc.