Yahoo Finance Alcon (ALC) Unveils Expansive Vision Care Products at SECO 2023
Alcon ALC has unveiled its latest innovations and expansive suite of vision care products at the SECO 2023 International Meeting in Atlanta, GA. The company announced that it debuted TOTAL30, which is the first and only reusable Water Gradient toric lens in the market for astigmatic contact lens wearers.
This addition within Alcon’s Vision Care segment portfolio expands the company’s wide array of offerings for astigmatic people, which includes DAILIES TOTAL1 and PRECISION1.
During SECO, Alcon noted presenting the broad range of the latest clinical research findings on TOTAL30 for Astigmatism. This will illustrate the performance of the toric lens in terms of comfort, stability, visual acuity and the science behind Alcon’s Water Gradient and Celligent Technologies.
Significance
Reputed as the global leader in eye care dedicated to helping people see brilliantly, Alcon is concurrently celebrating 100 years of SECO and the introduction of TOTAL30 contact lenses.
Alcon Price
Alcon price | Alcon Quote
TOTAL30 delivers a premium wearing experience for reusable contact lens wearers. It features Alcon’s proprietary Water Gradient and Celligent Technologies, which allows the lens to mimic the structure of the ocular surface.
TOTAL30 is already available in the United States and European markets. It simultaneously serves the rapidly expanding astigmatic market segment and reusable lens category customers.
The innovation is built on findings from multiple sources referred by Alcon, which suggest that nearly 66% of contact lens users wear weekly or monthly lenses, whereas 56% experience eye health problems, such as discomfort, dryness and build-up issues. Moreover, 80% of contact lens wearers would opt to change lenses for a more comfortable pair.
Alcon will showcase its latest clinical research findings on TOTAL30 for Astigmatism at SECO 2023.
More in Detail
For the SECO 2023 Meeting attendees, Alcon has set up unique experiences, such as TOTAL30 for Astigmatism Try-On Event and live demos for MARLO – Alcon’s digital ordering platform. Through MARLO, the company targets to connect eye care professionals with patients and broaden access to eye care in the United States.
This year, Alcon also celebrates the 20th anniversary of Systane. At SECO, the company will highlight the performance and efficacy of its dry eye and ocular health offerings, including SYSTANE HYDRATION Preservative-Free (“PF”).
The findings on SYSTANE HYDRATION PF focus on the product’s Hydroboost technology to restore moisture and serve as a protectant against irritation and provide relief from dry eye symptoms.
Industry Prospects
Per a report by Grand View Research, the global contact lens market’s size was $14.6 billion in 2021 and is expected to register a CAGR of 4.3% by 2030. The rise in graphic inaccuracies and the increasing number of outdoor activities are further boosting the market growth.
Recent Developments
In February 2023, Alcon entered into a settlement agreement with J&J Surgical Vision, Inc. to resolve their pending legal proceedings relating to femtosecond laser-assisted cataract surgery devices. These include the LenSx device, which Alcon acquired as part of its purchase of LenSx Lasers, Inc.
In the fourth quarter of 2022, Alcon completed its acquisition of Aerie Pharmaceuticals, Inc. The buyout will expand Alcon’s presence in the ophthalmic pharmaceutical space with its growing portfolio of commercial products and development pipeline.
Price Performance
In the past six months, shares of the company have increased 0.8% compared with the industry’s rise of 4.7%.
Zacks Rank and Other Key Picks
Alcon carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the overall healthcare sector include Haemonetics Corporation HAE, TerrAscend Corp. TRSSF and Akerna Corp. KERN. Haemonetics and TerrAscend each sport a Zacks Rank #1 (Strong Buy), while Akerna carries a Zack Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 31.4% in the past year. Earnings estimates for Haemonetics have increased from $2.87 per share to $2.94 for 2023 and from $3.02 per share to $3.29 for 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the last four quarters, delivering an average surprise of 10.98%. In the last reported quarter, it delivered an earnings surprise of 7.59%.
Estimates for TerrAscend in 2023 have decreased from a loss of 10 cents per share to a loss of 9 per share in the past 30 days. Shares of TerrAscend have declined 65.3% in the past year.
TerrAscend’s earnings beat estimates in one of the last three quarters and missed the mark in the other two, with the average negative surprise being 136.11%. In the last reported quarter, TRSSF delivered an earnings surprise of 216.67%.
Akerna’s stock has declined 95.6% in the past year. Estimates for 2023 have remained constant at a loss of $1.91 per share over the past 30 days.
Akerna missed earnings estimates in each of the last four quarters, delivering a negative earnings surprise of 15.49% on average. In the last reported quarter, KERN delivered a negative earnings surprise of 13.33%.
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