Taking the healthcare technological advancement a level up, the pharmaceutical giant, Novartis AG (ADR) (NYSE:NVS) has collaborated with Google Inc (NASDAQ:GOOGL), in order to work on the development of ‘smart’ contact lens. The lens will be based on an ‘in-eye’ technology, which was launched earlier this year, which will help lens users to monitor their blood levels and rectify their vision in a brand new way. Fox Business reported that though there is no information available related to the terms of the deal, but Novartis AG (ADR) (NYSE:NVS), which is a daily use contact lens maker, is believed to be a dominant player in the deal.
The Smart Lens will add to the existing wearable offerings of Google Inc (NASDAQ:GOOGL), which describes the electronic components used in the lens as so miniscule that they appear like bits of glitter. The lenses are equipped with a minute sensor that observes glucose levels present in tears and then transmits it through a tiny antenna. A month back, Google Inc (NASDAQ:GOOGL) had rolled out its Google Fit app on the Android mobile operating system as a platform to keep a tab on health metrics, like exercise and sleep.
Meanwhile, Wall Street Journal cited Novartis AG (ADR) (NYSE:NVS) CEO Joe Jimenez, “This will be a very important growth area in the future.” Jimenez went on to state that the smart lens is part of the broader prevailing trend that aims to give healthcare control in the hands of individuals so as to help keep the outbreak of chronic diseases at bay. Jimenez considers the wearable healthcare technology has increased potential to attract a large revenue share for the company. Moreover, the smart lens technology is superior, easy and comprehensive to the present glucose level monitoring system, which generally require patients to prick their fingers in order to test blood droplets for glucose levels. As of now, Novartis AG (ADR) (NYSE:NVS) expects the first prototype to be available for further research and development by as early as 2015.