Bausch + Lomb Corp. (BLCO) stock is soaring 5% in intraday trading on Wednesday, following the announcement of a significant regulatory milestone. The company has obtained European CE Mark approval for its LuxLife vision intraocular lens, marking a major advancement in its ophthalmology product lineup.

The LuxLife intraocular lens is designed to address a prevalent vision issue, capable of treating 79.5% of people with more than 0.5D of corneal astigmatism before cataract surgery. This approval paves the way for Bausch + Lomb to expand its market presence in Europe, with the company stating that the product will be commercially available in the coming weeks.

Investors are reacting positively to this development, recognizing the potential for increased revenue and market share in the lucrative European ophthalmology market. The CE Mark approval not only validates the technology but also positions Bausch + Lomb as a key player in addressing vision correction needs for cataract patients with astigmatism. As the company prepares for the commercial launch, market analysts will be closely watching the product's reception and its impact on Bausch + Lomb's financial performance in the coming quarters.