Abbvie Inc (ABBV)

[DewDiligence]

FDA approves ABBV’s Vuity—(pilocarpine eye drops)—for presbyopia:

https://finance.yahoo.com/news/u-food-drug-administration-approves-213100317.html

The drug works by narrowing the pupil, which improves near focusing. It takes effect in 15 minutes and continues working for approximately 6 hours. The purpose is to avoid having to use reading glasses. I project modest sales.

The drug itself is an old generic, but the formulation is new:

…VUITY is an optimized formulation of pilocarpine, an established eye care therapeutic, delivered with pHast technology. The proprietary pHast technology allows VUITY to rapidly adjust to the physiologic pH of the tear film.