RTTNews | Aug 12, 2021 12:27PM EDT

12:26 Thursday, August 12, 2021 (RTTNews.com) - CooperCompanies Inc. (COO) is trading 7% higher in the Thursday market after the company got approval from the healthcare department of China about marketing its contact lenses.

The company said that its CooperVision MiSight 1 day contact lenses will help the younger generation in the country of which 80% are suffering from Myopia or short sightedness. The approval of Chinese National Medical Products Administration will mean that MiSight will be the first Chinese contact lens maker which will slow the progression of axial length in kids and teenagers which will result in Cataracts, retinal detachment, glaucoma, myopic maculopathy and other complex problems.

The shares are currently trading at $434.55, up $26.35 or 6.46% from their previous close at $408.20. The shares opened at $411.90 in the morning and in the 52-week period, the shares have ranged between $294.94 and $436.40.

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