J&J Vision Receives Approval For TECNIS Synergy And TECNIS Synergy Toric II IOLs In US And Canada
Johnson & Johnson Vision (JNJ) has received approval in the US for TECNIS Synergy and TECNIS Synergy Toric II IOLs. In Canada, it received approval for TECNIS Synergy Toric II IOLs.
This presbyopia-correcting intraocular lens (PCIOL) provides continuous vision to cataract patients regardless of the light setting. In a study, of the 10 patients who were given TECNIS Synergy IOL lenses, 9 did not require glasses post-surgery.
Johnson & Johnson Vision Chief Medical officer and Global Head of Clinical and Medical Affairs, Rajesh Rajpal said, “The TECNIS Synergy IOL combines the best of extended depth of focus and multifocal technologies- to deliver the widest range of continuous vision with the best near vision among leading PCIOLs, without the visual gaps caused by existing trifocal technology.” (See Johnson & Johnson stock analysis on TipRanks)
Over 90% of people develop cataracts by the time they reach 65. Cataracts are the leading cause of preventable blindness globally.
Significantly, Johnson & Johnson Vision has received approval across North America for seven innovations designed to target cataracts in the past year.
Recently, Goldman Sachs analyst Terence Flynn reiterated a Buy rating on the stock with a $201 price target (19.8% upside potential).
The US Food and Drug Administration (FDA) and CDC called for a pause to using Johnson & Johnson’s COVID-19 vaccine due to cases of blood clots.
Reacting to the development, Flynn noted that there was a numerical mismatch in reported blood clots from the vaccine’s Phase 3 trial. Flynn awaits more data about the risk-to-reward profile of the vaccine.
Based on 4 Buys and 1 Hold, consensus on the Street is that Johnson & Johnson is a Strong Buy. The average analyst price target of $190.40 implies 13.5% upside potential. Shares have gained about 13.3% over the past year.
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