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Biotech / Medical : VISX -- Ignore unavailable to you. Want to Upgrade?

To: W Shakespeare who wrote (1735)	6/22/2000 3:30:00 PM
From: adsorb	Read Replies (1) \| Respond to of 1754

VISX shares rebound after U.S. patent clears hurdle ================================================================ LOS ANGELES, June 22 (Reuters) - Shares of vision-correction laser maker VISX Inc. (NASDAQ:VISX) rose 21 percent on Thursday after the U.S. Patent and Trademark Office said it intended to reissue one of the company's key patents. Shares of Santa Clara, Calif.-based VISX, which makes systems used for LASIK (Laser in-situ Keratomileusis), the fastest growing refractive procedure for vision correction, were up 5-15/16 at 34-1/2 in afternoon trading on Nasdaq. VISX, which is engaged in litigation with several companies over its laser vision patents, said the patent office launched its reexamination of the company's 388 Patent more than two years ago. Since then, VISX said it has amended the original five claims of the patent and added 60 new claims that pertain to methods of performing laser vision correction. The patent will expire in 2009. Once the patent is reissued, VISX could use it as ammunition in its court battles, said Katherine Sharadin, an analyst at Preferred Capital Markets. She noted, however, that there was still a lot of uncertainty for the company, which has seen its majority share of the market for laser vision correction challenged as competitors pile into the fast-growing field. "The patent is pivotal to their whole technology, but there is still an issue of enforceability," Sharadin said, referring to questions that have been raised about prior patents closely-related to the VISX technology. The U.S. Patent and Trade Office does not address the enforceability of a patent, leaving such decisions to the courts. "VISX hasn't sued Bausch & Lomb (NYSE:BOL) yet, but I think they and the others could countersue on the grounds that the patent is tainted," the analyst said. Bausch & Lomb was recently cleared to sell its excimer laser system in the United States, while makers of other systems, including VISX, Summit Technology Inc. (NASDAQ:BEAM) and LaserSight Inc.(NASDAQ:LASE), have slashed prices. "We are extremely pleased that this broad and fundamental laser vision correction patent is finally emerging from the Patent Office," Mark Logan, chairman and chief executive officer of VISX, said in a statement. The company said it expected the U.S. Patent and Trademark Office to formally reissue the patent within the next several months. "A year ago, buyers of lasers were looking more to intellectual property rights than to technology, but that is not the case today. If VISX had the technology demanded by the market, this wouldn't be an issue," Sharadin said. She added that the recent share price run-up and expected strong second quarter for VISX look like a good opportunity to "lighten up" on the stock. Copyright 2000, Reuters News Service