STAAR Surgical increases sales in second quarter

MONROVIA, Calif. — Product sales increased 8%, to $13 million, for STAAR Surgical during the second quarter, led by the company’s phakic Implantable Contact Lens for the treatment of myopia. Total international sales were up 19% from the previous year’s quarter, with the ICL generating 38% more sales this year than in the comparable quarter last year, according to a company press release.

“International ICL sales were also impacted favorably by an increase in Toric ICL sales,” said David Bailey, president and chief executive officer of STAAR, in a news release. “Year-to-date ICL sales also improved with revenues up 42% from the same period last year.”

U.S. sales of the company’s specialty Toric and collamer one-piece aphakic lenses grew during the quarter, Mr. Bailey said.

“We will continue to generate double-digit sales growth in international markets while the U.S. market will remain a challenge until we bring to market, perhaps late in the third quarter, our injector system for the three-piece collamer IOL,” he said. The injector system should start to impact the company’s earnings in early 2004, he added.

STAAR’s ICL is a phakic refractive lens for the correction of myopia between –3 D and –20 D. It is approved for sale in 37 countries and is awaiting U.S. regulatory approval. STAAR is enrolling candidates in a trial for its hyperopic ICL as well as for its Toric ICL, according to the release.