Reuters, January 20, 2005

A private biotechnology company called Angiosyn, Inc., in the United States, is developing a drug for macular degeneration, the leading cause of blindness in the elderly. So far the drug has only been tested in animals.

The U.S. Food and Drug Administration had, in December 2004, approved a drug for the more severe form of macular degeneration that was developed by Pfizer (which is in talks to acquire Angiosyn). Analysts estimate the drug, Macugen, could eventually generate more than $1 billion a year.