Vistakon Medical Device Company Intelligence Report
 
Report

Vistakon Medical Device Company Intelligence ReportMedical Device Company Intelligence Reports provide a full review of the company's activities, from its origins to its latest corporate activity, including mergers and acquisitions, agreements, divestitures, major purchasing contracts and litigation.

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Vistakon, headquartered in Jacksonville, Florida, USA, manufacturers and markets a range of disposable contact lenses. The company is a division of Johnson and Johnson (J&J) Vision Care, which also includes Vistakon Pharmaceuticals that markets prescription ophthalmic agents. The division also incorporated The Spectacle Lens Group until this business was sold to Essilor in the third quarter of 2005.

Vistakon has around 2,500 employees and manufactures the well-known Acuvue brand of contact lenses in over 70 countries worldwide. This line has been expanded over the years to include lenses that are more moist and comfortable for users, coloured cosmetic lenses, bifocal products and lenses that address astigmatism. The company is the world's leading contact lens manufacturer, with the leading positions for spherical and one-day lenses. It also holds the second position for cosmetic lenses and for speciality lenses that address conditions such as astigmatism and presbyopia. Driven by strong demand for its Acuvue brand, the company has achieved compound annual sales growth of 11% from 2001 to 2006.

In addition to its contact lens operations, Vistakon is also currently developing products to address the markets for contact lens solutions and ophthalmic pharmaceuticals.

From 1st January 2008, J&J's Vision Care business will become part of J&J's Comprehensive Care Group, which will also include Cordis, J&J's diabetes operations and Ortho-Clinical Diagnostics. This move was announced in November 2007 and is part of efforts to accelerate growth for J&J. A series of organisational changes will be implemented, including the creation of a strategy to sharpen J&J's focus on opportunities outside its traditional areas of interest and in growing markets, as well as the creation of two new operating groups. The changes are designed to build on J&J's broad base of businesses and decentralised structure. The new structure is intended to help J&J capitalise on its expertise across its pharmaceutical, biologics, devices, diagnostics and consumer businesses to bring new products to market. The company believes it can accelerate growth through a focus on the intersection of its existing capabilities, customer needs and emerging trends.

The Comprehensive Care Group aims to create portfolios to address chronic and pervasive conditions through the convergence of technologies, products and services. Donald M Casey, Jr, currently Company Group Chairman for the Diabetes franchise, will assume the role of Worldwide Chairman of Comprehensive Care and will become a member of J&J's executive committee.

Report Details:
Publisher:
Espicom
Type:
Management Report - January 2008
First Publication Date:
1/1/2008
 
 
 
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