Glaukos (NYSE:GKOS) posted its second-quarter financial results this week and reported that it plans to acquire Avedro in an effort to build out its corneal health franchise.
Avedro develops single-use drug formulations designed to strengthen corneal tissue and stop the progression of a degenerative corneal ectatic disease known as keratoconus. According to the Mass.-based company, the total U.S. market for its keratoconus therapy is roughly $3 billion.
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