The Cooper Companies Inc. (Coopercompanies) again beat analyst estimates, posting fiscal fourth-quarter revenue of $682 million – down 3% from the same period the prior year, but ahead of the Street’s forecast of $676 million. Earnings per share (EPS) also topped consensus, at $3.16 vs. $3.09. The company attributed the better-than-expected performance to encouraging recovery trends in both its contact lens and surgical businesses.
The U.S. FDA has given its final approval to Coopervision Inc.'s Misight 1 day, the first contact lens designed to slow the progression of myopia, or near-sightedness, in children. The single use, disposable, soft contact lens is indicated for children who are diagnosed with myopia and begin Misight treatment at an early age. Specifically, the FDA indication said that "Misight (omafilcon A) daily wear single use soft contact lenses are indicated for the correction of myopic ametropia and for slowing the progression of myopia in children with non-diseased eyes, who at the initiation of treatment are 8-12 years of age and have a refraction of -0.75 to -4.00 diopters (spherical equivalent) with ≤ 0.75 diopters of astigmatism. The lens is to be discarded after each removal."