Healthcare products maker Abbott Laboratories (ABT) said Friday that the U.S. Food and Drug Administration or FDA has approved usage of the company's iFS Advanced Femtosecond Laser to create bow-shaped or curved arcuate incisions in corneal surgery, including cataract surgery.
The iFS Laser is currently used to create LASIK flaps and other corneal incisions in the eye and is the fifth generation of IntraLase technology, which has been used in more than 5 million procedures worldwide. In the U.S., nearly 3 million patients undergo cataract surgery each year.
Factors such as placement, length, depth and radius of curvature are difficult to control through traditional incisions made by hand using surgical knives.
Abbott said that the iFS Laser enables surgeons to make arcuate incisions with greater precision and customization than is possible with a manual technique.
Abbott said that the new use of its iFS Femtosecond laser is available now in the U.S. According to the company, with the new clearance, the iFS Laser will now give surgeons the ability to make precise, bladeless arcuate incisions during surgery and customize the incision for each individual patient.
Jim Mazzo, senior vice president of Abbott Medical Optics, said, "Abbott has been a pioneer in the ophthalmic use of Femtosecond lasers, and this new use of our technology demonstrates our leadership position in this very dynamic and competitive market. This is an important step as we look to utilize Femtosecond laser technology as a potential standard of care during the cataract procedure."
The company said study data supported that the iFS Femtosecond laser creates arcuate incisions safely and effectively as prescribed by the physician, and complies with applicable safety standards.
The use of femtosecond lasers for a variety of ophthalmic operations continues to grow, and market forecasts predict that the sector will keep expanding.
In Friday's session, ABT is trading at $59.41, down $0.10 or 0.17 percent on a volume of 2.07 million shares.
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