Valeant Pharmaceuticals Intl Inc (NYSE:VRX) wholly owned subsidiary, Bausch + Lomb, a leading global eye health company, and IBM (NYSE: IBM) today announced a collaboration to develop the first app of its kind for iPhone and iPad to assist surgeons who perform cataract surgery. The innovative app will help surgeons streamline their workflow by delivering patient information and clinical insights as well as intraocular lens (IOL) selection guidance on a single digital platform at the point of care.
The app will be designed to electronically manage patient data across iPhone and iPad while hosting health-related data on IBM Cloud — a secure, cloud-based environment — and relaying informed, customized IOL options to surgeons that they will use to help enhance surgical planning and provide better patient care. The MobileFirst for iOS team, which is part of IBM Global Business Services, will design and develop this custom app for Bausch + Lomb to help drive innovation in healthcare. Bausch + Lomb’s vision is to optimize the app to collect data over time, resulting in a cognitive app that applies machine-based learning and predictive analytics to deliver real-time insights to surgeons.
“Improving health outcomes is at the core of our business at Valeant,” said Joseph C. Papa, Chairman and Chief Executive Officer of Valeant. “We’re excited that Bausch + Lomb and IBM will team up to develop a first-of-its-kind app that takes the best of each business’s capabilities and focuses on enhancing critical decision-making for surgeons. This collaboration is a strong reflection of B+L’s commitment to the ophthalmology industry and the patients that it serves.” (Original Source)
Shares of Valeant Pharmaceuticals are up nearly 2% to $35.35 in after-hours trading. VRX has a 1-year high of $263.81 and a 1-year low of $25.27. The stock’s 50-day moving average is $32.05 and its 200-day moving average is $76.18.
On the ratings front, Valeant Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on May 2, Piper Jaffray analyst David Amsellem reiterated a Sell rating on VRX. Separately, on the same day, BMO’s Alex Arfaei reiterated a Hold rating on the stock and has a price target of $44.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Amsellem and Alex Arfaei have a total average return of -9.2% and 4.7% respectively. Amsellem has a success rate of 32.6% and is ranked #3671 out of 3827 analysts, while Arfaei has a success rate of 64.0% and is ranked #659.
The street is mostly Neutral on VRX stock. Out of 21 analysts who cover the stock, 10 suggest a Hold rating , 7 suggest a Buy and 4 recommend to Sell the stock. The 12-month average price target assigned to the stock is $53.20, which represents a potential upside of 52.9% from where the stock is currently trading.
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology, and branded generics. The company operates through two operating and reportable segments: (i) Developed Markets and (ii) Emerging Markets.