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CompaniesJuly 9 (Reuters) - Bausch + Lomb (BLCO.TO), opens new tab said on Thursday its glaucoma eye drop had missed the main goal in a mid-stage trial of replicating visual function improvements observed in a smaller study.The company said it will discontinue development of the eye drops for glaucoma-related vision improvement.
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Bausch acquired the eye drop BL1107 through a buyout of Whitecap Biosciences last year.
U.S.-listed shares of the company were down 2.8% in extended trading.
The company said it will continue pursuing a sustained-release implant for the treatment of vision-threatening diseases, with a primary focus on geographic atrophy, an advanced, late stage of dry age-related macular degeneration.
Bausch expects clinical trials of the implant to begin in 2028.
"We’ve intentionally built a diversified pipeline ... not every program will succeed, but every study helps us make smarter decisions about where to invest,” said Bausch's medical chief Yehia Hashad.
Reporting by Puyaan Singh in Bengaluru; Editing by Tasim Zahid
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