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These excerpts taken from the EYE 10-K filed Feb 24, 2009. Research and Development Our long-term success is dependent on the introduction of new and innovative products in all business segments. Our research and development strategy is to develop proprietary products for vision correction that are safe and effective and address unmet needs. As we implement this strategy, we will seek to develop new products with measurable benefits such as increased practitioner productivity, better patient outcomes and reduced costs to health care payors and providers.
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Table of ContentsResearch and development activities for our cataract business are focused on expanding our product portfolio. We have focused on five areas of opportunity to provide superior outcomes in cataract surgery:
In the area of laser vision correction, our research and development efforts are focused on advancements in LASIK and adjunctive technologies. Current projects include:
Our research and development efforts in the eye care business are aimed at developing proprietary disinfectant systems that are effective and convenient for customers to use, which we believe will result in longer, more comfortable lens wear and a higher rate of compliance with recommended lens care procedures. Our efforts include seeking formulations that provide enhanced cleaning and disinfection without irritation, prolonged lubrication, improved ocular health and protection against dryness. Additionally, we are committed to building on our blink® Tears product line through the development of improved artificial tears that address the full range of dry eye disorders from mild to moderate to severe. We plan to supplement our research and development activities with a commitment to identifying and obtaining new technologies through in-licensing, technological collaborations and joint ventures, including the establishment of research relationships with academic institutions and individual researchers. We spent approximately $75.9 million in 2008, $81.8 million in 2007 and $66.1 million in 2006, or 6.4%, 7.5%, and 6.6% of total net sales in 2008, 2007, and 2006, respectively, on research and development, excluding a non-cash in-process research and development charge of $87.0 million in 2007. We believe that the continuing introduction of new products supplied by our research and development efforts and in-licensing opportunities are critical to our success. There are, however, inherent uncertainties associated with our research and development efforts and the regulatory approval process and we cannot provide assurance that any of our research projects will result in new products that we can commercialize. Research and Development
8 Table of ContentsResearch and development activities for our cataract business are focused on expanding our product
In the area of laser vision correction, our research and development efforts
disinfectant systems that are effective and convenient for customers to use, which we believe will result in longer, more comfortable lens wear and a higher rate of compliance with recommended lens care procedures. Our efforts include seeking formulations that provide enhanced cleaning and disinfection without irritation, prolonged lubrication, improved ocular health and protection against dryness. Additionally, we are committed to building on our blinkSIZE="1">® Tears product line through the development of improved artificial tears that address the full range of dry eye disorders from mild to moderate to severe. technological collaborations and joint ventures, including the establishment of research relationships with academic institutions and individual researchers.
Research and Development
8 Table of ContentsResearch and development activities for our cataract business are focused on expanding our product
In the area of laser vision correction, our research and development efforts
disinfectant systems that are effective and convenient for customers to use, which we believe will result in longer, more comfortable lens wear and a higher rate of compliance with recommended lens care procedures. Our efforts include seeking formulations that provide enhanced cleaning and disinfection without irritation, prolonged lubrication, improved ocular health and protection against dryness. Additionally, we are committed to building on our blinkSIZE="1">® Tears product line through the development of improved artificial tears that address the full range of dry eye disorders from mild to moderate to severe. technological collaborations and joint ventures, including the establishment of research relationships with academic institutions and individual researchers.
Research and Development Costs to acquire in-process research and 67 Table of ContentsResearch and Development Costs to acquire in-process research and 67 Table of ContentsThis excerpt taken from the EYE 10-K filed Mar 3, 2008. Research and Development Our long-term success is dependent on the introduction of new and innovative products in all business segments. Our research and development strategy is to develop proprietary products for vision correction that are safe and effective and address unmet needs. As we implement this strategy, we will seek to develop new products with measurable benefits such as increased practitioner productivity, better patient outcomes and reduced costs to health care payors and providers. Research and development activities for our cataract/implant business are focused on expanding our product portfolio. We have focused on six areas of opportunity to provide superior outcomes in cataract surgery:
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Table of Contents
In the area of laser vision correction, our research and development efforts are focused on advancements in LASIK and adjunctive technologies. Current projects include:
Our research and development efforts in the eye care business are aimed at developing proprietary systems that are effective and convenient for customers to use, which we believe will result in longer, more comfortable lens wear and a higher rate of compliance with recommended lens care procedures. Our efforts include seeking formulations that provide enhanced cleaning and disinfection without irritation, prolonged lubrication, improved ocular health and protection against dryness. Our research and development efforts have resulted in the continued development of our flagship Complete brand multi-purpose solution and blink rewetter solutions, with further advancements currently in development. We have developed and are commercializing our first over-the-counter artificial tear product in 2008, with further advancements currently in development. We plan to supplement our research and development activities with a commitment to identifying and obtaining new technologies through in-licensing, technological collaborations and joint ventures, including the establishment of research relationships with academic institutions and individual researchers. Total research and development expense in 2007 was $168.8 million, including a non-cash in-process research and development charge of $87.0 million and in 2005 was $552.4 million, including a non-cash in-process research and development charge of $490.8 million. We spent approximately $81.8 million in 2007, $66.1 million in 2006 and $61.6 million in 2005, or 7.5%, 6.6%, and 6.7% of total net sales in 2007, 2006, and 2005, respectively, on research and development, excluding these in-process research and development charges. We believe that the continuing introduction of new products supplied by our research and development efforts and in-licensing opportunities are critical to our success. There are, however, inherent uncertainties associated with the research and development efforts and the regulatory process and we cannot assure you that any of our research projects will result in new products that we can commercialize. This excerpt taken from the EYE 10-K filed Mar 1, 2007. Research and development. Research and development expenditures as
a percentage of net sales in 2006 remained relatively constant as compared to
2005 and as a percentage of net sales increased slightly in 2005 as compared to
2004. Our research and development strategy is to develop proprietary products
for vision correction that are safe and effective and address unmet needs. We
are currently focusing on new advancements that build on our Tecnis, Healon and Sovereign technologies, corneal and
lens-based solutions to presbyopia and dry eye products.
This excerpt taken from the EYE 10-Q filed Nov 8, 2006. Research
and development. Research and development expenditures decreased
as a percent of net sales by 1.2 percentage points to 6.2%, and by 0.1 percentage
points to 6.6% in the three and nine months ended September 29, 2006,
respectively, compared with the same periods last year. The $4.8 million increase
in research and development expenditures during the nine months ended September
29, 2006 compared with the same period last year primarily resulted from an increase in
spending for research efforts in the Cataract/Implant and LVC businesses. We
expect our research and development costs as a percentage of sales to be
approximately 6.5% of net sales for 2006 as we continue to consolidate research
and development costs from the VISX acquisition. Our research and development
strategy is to develop proprietary products for vision correction that are safe
and effective and address unmet needs. We are currently focusing on new
advancements that build on our Tecnis, Healon and
Sovereign technologies, corneal and
lens-based solutions to presbyopia and dry eye products. Our research and
development teams are actively pursuing new CustomVue indications
in order to strengthen our LVC market position, particularly in the area of
treatment for presbyopia.
This excerpt taken from the EYE 10-Q filed Aug 9, 2006. Research
and development. Research and development expenditures
increased as a percent of net sales by 0.3 percentage points to 6.4%, and by
0.5 percentage points to 6.8% in the three and six months ended June 30, 2006,
respectively, compared with the same periods last year. The increases in
research and development expenditures as a percentage of net sales were
primarily the result of an increase in spending for research efforts in the
Cataract/Implant and LVC businesses. We expect our research and development
costs as a percentage of sales to be approximately 6.5% of net sales for 2006
as we continue to consolidate research and development costs from the VISX acquisition.
Our research and development strategy is to develop proprietary products for
vision correction that are safe and effective and address unmet needs. We are
currently focusing on new advancements that build on our Tecnis,
Healon and Sovereign technologies,
corneal and lens-based solutions to presbyopia and dry eye products. Our
research and development teams are actively pursuing new CustomVue indications
in order to strengthen our LVC market position, particularly in the area of
treatment for presbyopia.
This excerpt taken from the EYE 10-Q filed May 10, 2006. Research and development. Research and development expenditures
increased as a percent of net sales by 0.7 percentage points to 7.1%, in the
three months ended March 31, 2006, compared with the same period last
year. The increase in research and development expenditures as a percentage of
net sales was primarily the result of an increase in spending for research
efforts in the Cataract/Implant and LVC businesses. We expect our research and
development cost as a percentage of sales to decrease moderately for the
remainder of 2006 as we continue to consolidate research and development cost
from the VISX acquisition. Our research and development strategy is to develop
proprietary products for vision correction that are safe and effective and
address unmet needs. We are currently focusing on new advancements that build
on our These excerpts taken from the EYE 10-K filed Mar 14, 2006. RESEARCH & DEVELOPMENT
• Corporate Adjusted Operating Income (20%)
• Corporate Revenue (20%)
• Achievement of R & D and Business Development Milestones (60%)
Research and development. Research and development expenditures as
a percentage of net sales in 2005 increased slightly as compared to 2004 and as
a percentage of net sales remained relatively constant in 2004 as compared to
2003. Our research and development strategy is to develop proprietary products
for vision correction that are safe and effective and address unmet needs. During
2005, we obtained FDA approval and launched the This excerpt taken from the EYE 8-K filed Jul 27, 2005. RESEARCH & DEVELOPMENT
This excerpt taken from the EYE 10-Q filed Apr 29, 2005. RESEARCH & DEVELOPMENT
This excerpt taken from the EYE 10-K filed Mar 2, 2005. Research and Development
Our long-term success is dependent on the introduction of new and innovative products in both the ophthalmic surgical and eye care businesses. Our research and development strategy is to develop proprietary products for vision correction that are safe and effective and address unmet needs. As we implement this strategy, we will seek to develop new products with measurable benefits such as increased practitioner productivity, better patient outcomes and reduced costs to health care payors and providers.
Research and development activities for our ophthalmic surgical business are focused on expanding our product portfolio for both cataract and refractive surgery. Within cataract surgery, we have focused on six areas of opportunity to provide superior outcomes:
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Table of Contents
Current projects include expansion of our portfolio of IOLs with the launch of a new multifocal IOL, ReZoom, an acrylic version of the Tecnis IOL, and a next generation Sensar IOL. Other projects include developing easier to use insertion systems for our foldable IOLs that provide for faster and safer procedures, and advances to our high end phacoemulsification system including our proprietary WhiteStar software technology.
In addition to cataract surgery products, we are leveraging our expertise in IOL implant technology to the areas of the surgical correction of refractive errors such as the Verisyse phakic IOL. These areas represent large unmet needs that are not addressed by current surgical procedures. Products that are currently under development include refractive implants for correction of moderate to high myopia and presbyopia.
Our research and development efforts in the eye care business are aimed at developing proprietary systems that are effective and more convenient for customers to use, which we believe will result in longer, more comfortable lens wear and a higher rate of compliance with recommended lens care procedures. Our efforts include seeking formulations that provide prolonged lubrication, improved protection against dryness and enhanced cleaning without irritation and ocular health. Our research and development efforts have resulted in the continued development of our flagship Complete brand multi-purpose solution and blink rewetter solutions, with further advancements currently in development.
We plan to supplement our research and development activities with a commitment to identifying and obtaining new technologies through in-licensing, technological collaborations and joint ventures, including the establishment of research relationships with academic institutions and individual researchers.
We spent approximately $45.6 million in 2004, $37.4 million in 2003, and $29.9 million in 2002 on research and development. Total research and development expense in 2004 was $73.7 million, including a non-cash in-process research and development charge of $28.1 million. Research and development spending represented 6.1%, 6.2%, and 5.6% of total net sales in 2004, 2003, and 2002, respectively. We believe that the continuing introduction of new products supplied by our research and development efforts and in-licensing opportunities are critical to our success. There are, however, inherent uncertainties associated with the research and development efforts and the regulatory process and we cannot assure you that any of our research projects will result in new products that we can commercialize.
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