By Adrian Galbreth
Contact lens firm Bausch & Lomb is reportedly seeking an Indian partner to try to break into the market in the country.
Managing director of Bausch & Lomb for India and south-east Asia Harish Natarajan told mydigitalfc.com that the contact lens firm expects to be able to enter the market by 2011.
He explained the company wants a partner "with a decent grounding in the segment" and noted that the market is not yet stable.
There is only a five per cent penetration of contact lenses in India, though the figures are 30 per cent and 18 per cent in South Korea and China, respectively.
Another contact lens maker, Cooper Cos, was recently upgraded by Standard & Poor"s to be classed as "stable".
Its shares recently rose to $27 (£16).
However, Standard & Poor credit analyst Cheryl Richer noted that the firm has a reliance on soft contact lenses.
She said it has to "compete against much larger players".
by Emily Tait