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Biotech / Medical : BEAM, BOL, KERA, LASE, LCAV, LVCI, LZRC, VISX, SNRS, STAA

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To: HerbVic who wrote (232)	3/18/2000 2:17:00 PM
From: HerbVic	of 253

Here Polly! Get back on your perch Polly! <<<excerpt>>> Summit Wins FDA Panel Support for New Eye Laser Use (Update2) By Brian Reid (Closes shares.) Rockville, Maryland, March 17 (Bloomberg) -- Summit Technology Inc., the No. 2 eye laser maker, won the support of an expert governmental panel for an expanded use of the eye laser system Ladarvision. The U.S. Food and Drug Administration advisory panel voted to recommend that the agency allow the company to market the laser made by its Autonomous Technologies unit to treat farsightedness. It's already approved for nearsighted patients. If the FDA follows the panel's recommendation, the laser will have a range of approvals close to that of industry leader Visx Inc.'s laser, which analysts said could give Summit a boost. ``It's important psychologically, in that the people who are selling the machines would like to demonstrate that they have next- generation technology,' said Kenneth Goldman, an analyst at Lehman Brothers. Summit markets another eye laser already approved for both nearsightedness and farsightedness, though the Autonomous laser would be the first approved for astigmatism in patients with farsightedness. ``The sponsors did an excellent job in showing overall safety and efficacy,' said Arthur Bradley, an associate professor at Indiana University, one of two panel members who reviewed the Summit data in detail. Shares of Waltham, Massachusetts-based Summit, which have fallen 8 percent this year, rose 1 1/16 to 10 3/4 in trading on the Nasdaq Stock Market. Visx shares, which have lost more than 80 percent of their value this year, fell 7/16 to 15 15/16. <<<snip>>> The Ladarvision system -- an advanced laser that tracks the movement of the eye to better place the pulses of laser energy -- could give summit an edge as it tries to boost its share in the increasingly competitive eye laser market if it receives the expanded indication. quote.bloomberg.com

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