VISX Message Board - Msg: 14417625

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Biotech / Medical : VISX

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To: Krikor who wrote (1748)	9/20/2000 11:41:35 AM
From: Ram Seetharaman	of 1754

From H&Q - VISX, Inc. (EYE) $29.81 - $1.8B mkt cap: '388 Patent Reexamination - What Does this Mean for VISX?; Reiterate BUY The US Patent and Trademark Office (PTO) issued a reexamination certificate of the '388 patent, upholding and strengthening VISX's key method patent. The PTO had previously notified VISX that it would issue the certificate. Implications are that VISX has the strongest basis ever on which to sue alleged infringers such as Bausch & Lomb and Nidek, should VISX choose to do so ("no comment" from VISX). No legal result is likely for a year or more. Settlements could be reached at any time between now and then. We do not expect Nidek to settle, however. While recognition of the patent is a boost and represents further upside, the quarter's procedure growth numbers are more important in the short term. We expect sequential growth for the quarter to be slightly above our 2% estimate for VISX.

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