FDA Approves Bausch & Lomb Eye Laser

Bausch & Lomb Inc. said its eye laser won Food and Drug Administration approval, clearing the way for the company to enter the laser vision-correction market. Rochester, N.Y.-based Bausch & Lomb is the newest entry in a market in which growth has slowed and industry leaders are cutting prices. Visx Corp., the leading maker of eye lasers, and No. 2 Summit Technology Inc. this week announced a 60% reduction in the fees they charge doctors for each use of their lasers. Bausch & Lomb said it would charge $100 for each use of its Technolas lasers, matching Visx’s reduced price. Bausch & Lomb’s Technolas is used to correct mild to moderate nearsightedness and astigmatism in an eye-surgery procedure called Lasik. Bausch & Lomb shares rose 69 cents to close at $59.19 on the New York Stock Exchange.