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Advanced Medical to Ship Solution
Aug 9, 2007 | Associated Press | Forbes News
Advanced Medical Optics Inc. said Tuesday it will begin shipping a multipurpose contact lens solution in August, several months after it was pulled from the market amid an eye-infection scare.
The company pulled its MoisturePlus Multi-Purpose Solution in May, citing reports of an increased risk of a type of eye infection. The Centers for Disease Control and Prevention later that month confirmed 138 cases of an amoebic eye infection, with 21 of those reporting use of the product.
"The new product will focus on comfort and disinfection efficacy, incorporating the importance of proper handling and care of contact lenses, per guidelines set forth by professional eye care associations," the company said in a statement.
Advanced Medical is facing possible legal action over the solution. One such lawsuit filed in June, requests compensation for the money spent on the solution and the cost to replace it.
The company has blamed improper handling of contact lenses for rare infections. The infection, called Acanthamoeba keratitis, is caused by a waterborne organism and can lead to permanent vision loss or blindness. About 85 percent of U.S. cases occur in contact lens users.
Last year, Bausch & Lomb Inc. pulled its Renu with MoisturLoc solution from the market after it was connected to hundreds of cases of Fusarium keratitis, another rare eye infection. The Food and Drug Administration found there were production problems at the company's South Carolina plant and that there was a failure to disclose links between the infection and the product. Eventually, manufacturing problems were ruled out as a cause.
Advanced Medical Optics is in a bidding struggle for Bausch & Lomb with private equity firm Warburg Pincus. Bausch & Lomb has so far accepted a $65 per share offer from Warburg, but is still talking with Advanced Medical after the company put in a cash and stock bid for $75 per share.
Shares of Advanced Medical fell 17 cents to $33.75 in morning trading while shares of Rochester, N.Y.-based Bausch & Lomb fell 53 cents to $65.45.
