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Alcon reports 14.1% rise in global sales for third quarter

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HUNENBERG, Switzerland — Alcon reported $1.52 billion in global sales for the third quarter, a 14.1% increase compared with global sales reported during the third quarter of 2007, or 10.3% excluding the impact of foreign exchange fluctuations, the company announced in a press release.

Alcon's acquisition of WaveLight contributed 1.4 percentage points of this sales growth for the quarter, the release said.

Third-quarter net earnings rose 51% to $627.1 million, or $2.07 per diluted share, compared with $415.3 million, or $1.38 per diluted share, for the third quarter of 2007.

International sales increased 23.8% to $843.3 million, or 16.2% excluding foreign exchange fluctuations. U.S. sales rose 4.1% to $681.3 million.

Pharmaceutical sales rose 11.4% during the third quarter, or 7.8% on a constant currency basis, to $609.6 million.

Glaucoma product sales increased 15.8%, largely due to sales growth for Travatan (travoprost), continued market share gains for DuoTrav (travoprost 0.004%, timolol 0.5%) outside the United States and the successful launch and sales of Travatan Z (travoprost 0.004%) in Japan.

Infection and inflammation product sales experienced a 10.1% rise for the quarter, led by market share gains by Vigamox (moxifloxacin 0.5%) and Nevanac (nepafenac 0.1%), as well as global sales growth for TobraDex (tobramycin-dexamethasone).

Allergy product sales, including Patanol (olopatadine hydrochloride 0.1%) and Pataday (olopatadine hydrochloride 0.2%), increased 1.6% during the third quarter, which compensated for a downturn in prescriptions for allergy drops in the U.S.

Third-quarter surgical sales increased 18%, or 13.7% on a constant currency basis, to $691.3 million. Specifically, IOL sales rose 18.6% to $255.5 million, led by the global performance of AcrySof IQ lenses and strong sales of advanced technology lenses, which rose 42.4% to $50 million. Alcon attributed the increase to sales growth for its AcrySof toric and AcrySof ReSTOR aspheric IOLs.

Third-quarter cataract and vitrectomy product sales rose 12.6%, largely due to the sustained adaptation of advanced technologies such as the Infiniti vision system, 23- and 25-gauge vitrectomy instruments, and DuoVisc (chondroitin sulfate, sodium hyaluronate).

Third-quarter refractive revenue rose 230.6% due to the acquisition of WaveLight. However, the company also posted a 21% decline in total refractive procedures for combined LADARVision and Allegretto Wave systems.

Consumer eye care sales rose 10.5%, or 7% on a constant currency basis, to $223.7 million, led by a 2.6% gain in contact lens disinfectant sales. Artificial tears product sales also increased by 28% for the quarter.

Alcon expects full-year sales to total between $6.26 billion and $6.29 billion, for diluted earnings per share between $6.67 and $6.75, according to the release.