Alcon Launches PRECISION1 for Astigmatism Contact Lenses in the U.S.

Rhea-AI Summary

Alcon (SIX/NYSE: ALC) has launched the PRECISION1® for Astigmatism, a daily disposable silicone hydrogel contact lens aimed at individuals with astigmatism. This innovative product integrates SMARTSURFACE® technology and features a stable lens-wearing experience with a 99% first fit success rate. The company estimates that toric lenses represent 23% of the $9 billion global contact lens market, presenting significant growth opportunities. Available in the U.S. and set for international rollout in February 2021, the lens aims to capture a market where 41% of patients are astigmatic but only 10% wear toric lenses.

Positive

• Launch of PRECISION1 for Astigmatism, enhancing product portfolio.
• 99% first fit success rate enhances customer satisfaction.
• Significant market potential with astigmatism addressing 23% of the $9 billion market.
• Innovative SMARTSURFACE technology offers comfort and moisture retention.

Negative

• None.

Alcon (SIX/NYSE: ALC), the global leader in eye care dedicated to helping people see brilliantly, announced the U.S. launch of PRECISION1^® for Astigmatism, a daily disposable, silicone hydrogel (SiHy) contact lens designed for astigmatic patients.

PRECISION1® for Astigmatism Logo (Graphic: Business Wire)

“PRECISION1, with its cutting-edge SMARTSURFACE® technology, has become the fastest-growing daily disposable contact lens brand in the U.S.,” said Sergio Duplan, President, Alcon North America. “We are thrilled to build on this momentum by introducing PRECISION1 for Astigmatism, Alcon’s first daily disposable, SiHy toric lens at a mainstream price. This innovation offers Eye Care Professionals a lens for more of their astigmatic patients to start in and stay in.”

PRECISION1 for Astigmatism, born from the Water Gradient Technology of DAILIES TOTAL1^®, features the proven PRECISION BALANCE 8|4^® lens design for a stable lens-wearing experience.^1-3 Clinical studies show the toric lens settles in less than 60 seconds and 3º of ideal orientation for a 99% first fit success rate.^2* Additionally, a single 6 o’clock scribe mark makes fitting exceptionally easy.²

Astigmatism is a common vision problem caused by an irregularly shaped cornea. This can cause images to blur or stretch out. Alcon estimates that toric lenses, which correct for astigmatism, represent 23% of the $9 billion global contact lens market.⁴ As a result, there is a significant opportunity to attract new contact lens wearers and reduce lens dropouts. For example, studies show that 41% of patients are astigmatic,⁵ but only 10% wear toric contact lenses.⁶ Further, about 65% of contact lens dropouts have astigmatism.⁶

Born from Water Gradient Technology, PRECISION1 lenses feature SMARTSURFACE Technology, a permanent micro-thin, high-performance layer of moisture that steps up from 51% water at the core to greater than 80% water at the outer surface.⁷ These lenses support a stable tear film to deliver lasting performance.⁷

“Many of my patients want long-lasting comfort from their daily disposable contact lens, and that’s led me to wholeheartedly prescribe PRECISION1,” said Aaron Luekenga, OD, Heritage Valley Eye Care, California.^** “Now with PRECISION1 for Astigmatism, I can offer my astigmatic patients a stable, next-generation lens-wearing experience.”

PRECISION1 and PRECISION1 for Astigmatism are available in optical retailers/practices and online throughout the United States. Eye Care Professionals, with or without fit sets, will have access to order trial and revenue lenses directly from Alcon or an Alcon-authorized distributor.

In addition, PRECISION1 and PRECISION1 for Astigmatism will begin to roll out concurrently worldwide beginning in February 2021.

For more information, visit www.Precision1.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “commitment,” “look forward,” “maintain,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict. Some of these factors are discussed in our filings with the United States Securities and Exchange Commission, including our Form 20-F. In particular, our expectations could be affected by uncertainties regarding the success of our separation and spin-off from Novartis. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. Therefore, you should not rely on any of these forward-looking statements.

Forward-looking statements in this press release speak only as of the date of its filing, and we assume no obligation to update forward-looking statements as a result of new information, future events or otherwise.

About Alcon

Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning more than seven decades, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 20,000 associates are enhancing the quality of life through innovative products, partnerships with eye care professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.

References

^Trademarks are the property of their respective owners.
*Based on lens movement, centration and rotation at initial fitting.
**Dr. Luekenga is a paid consultant for Alcon.

1. Alcon data on File, 2019.
2. Alcon data on File, 2020 (n=78 eyes).
3. In a randomized, subject-masked, multi-site study with over 150 patients; significance demonstrated at the 0.05 level; Alcon data on file, 2005.
4. Alcon Estimates and independent market research.
5. Luensmann, D., Contact Lens and Anterior Eye (2018).
6. Multi-Sponsor Surveys 2014 Gallup target market report.
7. Alcon data on file, 2019.
8. Based on share growth, private practice sales, Q1-Q3 2020; ABB Analyze powered by GLIMPSE.
9. Private practice sales, on average, Q1-Q3 2020; ABB Analyze powered by GLIMPSE.
10. Miller J, Giedd B, Subbaraman L. Clinical comparison of verofilcon A and etafilcon A daily disposable contact lenses. Poster presented at virtual American Academy of Optometry 2020 annual meeting; October 7 - 22, 2020.

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FAQ

What is the PRECISION1 for Astigmatism contact lens launched by ALC?

PRECISION1 for Astigmatism is a daily disposable silicone hydrogel contact lens designed specifically for astigmatic patients.

When was the PRECISION1 for Astigmatism launched by Alcon (ALC)?

The PRECISION1 for Astigmatism was launched in the U.S. as of January 2021.

What market opportunity does Alcon (ALC) see with toric lenses?

Alcon estimates that toric lenses represent 23% of the $9 billion global contact lens market, indicating a strong growth potential.

How successful is the fitting rate for the new PRECISION1 for Astigmatism lenses?

The new lenses boast a 99% first fit success rate, making them easy for eye care professionals to fit patients.

What technology is used in the PRECISION1 for Astigmatism lenses?

The lenses feature SMARTSURFACE technology, which provides a moisture-retaining layer designed for lasting comfort.