VTI investment case, page-11

The CooperVision lenses have been in the market for a long time, in the order of about 10 years. Strangely, Cooper only obtained FDA approval in the US late last year for the indication of treatment of myopia progression as opposed to simply correcting for myopia. You are right in that Menicon had years to white label the Cooper lenses but chose the VTI lenses, no doubt due to their superior performance. VTI saw the Cooper FDA approval as a positive (and perhaps a surprise) when it happened in November last year. I presume VTI will attempt to get FDA approval for myopia progression in the US too. By way of background, VTI has approval for myopia progression in all its current markets except the US. In the US, the approval is for correcting myopia, although it would be widely known among US prescribers about those benefits since the statistical improvement is in the order of 90% for the VTI lenses and about half that for the Cooper lenses from memory, so a degree of off-label use is probably discussed with patients.