With advances in biology and medicine converging with new technologies, it was only a matter of time before a major drug maker and a tech giant got together to develop new medical devices.
Now the pharmaceutical and medical device company Novartis is teaming with Google in developing new contact lenses, according to Fox Business News. Novartis hopes to take advantage of trends that foretell a boon in the eye care market, including an aging population with an increasing need for innovative solutions for improved eyesight.
Novartis is focusing its business on generic drugs and pharmaceuticals in addition to eye care. The company expects to be launching new blockbuster psoriasis and heart disease drugs, and anticipates that emerging markets be more willing to pay market prices for innovative drugs that provide real health benefits.
But Novartis is especially excited with the partnership in eye care with Google. Using the tech company’s experience in eye technology with Google glasses, the contact lenses are expected to make use of built-in sensors that adjust like a camera lens. The contacts will be able to tell when the user is looking closely, as in reading, or looking far away, and will adjust to viewing changes in milliseconds, giving users real-time bifocal abilities.
The company is also looking to develop contact lenses for diabetics that include built-in glucose monitoring.
Novartis has also moved up in its oncology assets, after acquiring the oncology unit from competitor GlaxoSmithKline. The purchase put Novartis in the number two position globally in cancer drug development.