Smart phones, smart watches, now smart contact lenses

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By Simeon Bennett

Inc. gained an ally to smart contact lenses embedded electronics to improve vision and monitor health by teaming up Swiss drug company Novartis AG.
Novartis’s Alcon unit work ’s secretive X division on lenses non-invasive sensors, microchips and embedded miniaturized electronics to monitor insulin levels for people diabetes, or to restore the eye’s natural focus in people can no longer read without glasses, Basel-based Novartis said in a statement today. No terms of the deal were disclosed.
Novartis Chief Executive Joe Jimenez identified eye care as one of three key divisions, along with branded and generic drugs, in announcing a $28.5 billion restructure of the company in April that involved selling the vaccines and animal-health units and buying GlaxoSmithKline Plc’s cancer business.
“This is a key step for to go beyond the confines of traditional disease , starting with the eye,” Jimenez said in the statement.
Novartis rose 0.4 percent to 80.75 Swiss francs at 9:58 a.m. in Zurich. The stock has gained 20 percent in the past year, including reinvested dividends, compared with a 21 percent advance in the Bloomberg Europe Pharmaceutical Index.[eap_ad_3]

FDA Meeting

At a meeting with analysts and investors last month, Jimenez said technology would become important in pharmaceuticals as patients a active role in own health care.
“If you think about the convergence of biology and micro-processing today and things like remote patient monitoring and there can be a breakthrough in innovation that can help manage this aging and this is going to be the key,” Jimenez said.
said in January it developing smart contact lenses after Bloomberg News reported that the Mountain View, California-based company had met with officials at the U.S. Food and Drug Administration oversee devices.
“Our dream is to the latest technology in the miniaturization of electronics to help the quality of life for millions of people,” Sergey Brin, co-founder of Google, said in today’s statement. (Bloomberg)[eap_ad_3]