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Bausch + Lomb Corporation (BLCO) is a globally recognized leader in the field of eye health, offering comprehensive solutions across three primary business segments: vision care, surgical, and ophthalmic pharmaceuticals. With a history spanning over a century, the company has cemented its reputation as a trusted provider of innovative products and services that address a wide range of eye care needs.
Core Business Segments
Vision Care
The vision care segment encompasses two primary categories: contact lenses and ocular health products. Bausch + Lomb holds a significant share of the global contact lens market, offering a diverse range of lenses tailored to different vision correction needs, including daily disposables, extended-wear lenses, and specialty lenses for astigmatism and presbyopia. Its ocular health products include over-the-counter solutions such as Biotrue and Lumify, which cater to dry eye relief, redness reduction, and overall eye health maintenance.
Surgical
The surgical segment focuses on advanced technologies and equipment designed for ophthalmic procedures. This includes a comprehensive suite of intraocular lenses (IOLs), instruments for cataract and vitreoretinal surgeries, and cutting-edge surgical systems. These solutions are widely used by ophthalmologists to improve patient outcomes in complex eye surgeries, reinforcing Bausch + Lomb's role as a key player in the surgical eye care market.
Ophthalmic Pharmaceuticals
Bausch + Lomb's ophthalmic pharmaceuticals segment features a diverse portfolio of prescription medications that address various eye conditions, including glaucoma, inflammation, and retinal diseases. Notable products include treatments such as Xipere, Vyzulta, and Lotemax. With over 100 prescription eye care products, the company offers one of the most extensive pharmaceutical portfolios in the industry, meeting the needs of both patients and healthcare professionals.
Market Position and Competitive Landscape
Bausch + Lomb operates in the highly competitive eye health and medical device industry, where innovation and trust are paramount. Its competitors include prominent players like Alcon and CooperVision, among others. The company's differentiation lies in its extensive product offerings, longstanding reputation, and commitment to advancing eye care through research and development. By addressing a wide spectrum of eye health needs, Bausch + Lomb has positioned itself as a comprehensive provider in the global market.
Challenges and Opportunities
Operating in a regulated industry, Bausch + Lomb faces challenges such as stringent compliance requirements, pricing pressures, and the need for continuous innovation to stay competitive. However, the company also benefits from opportunities in emerging markets, increasing prevalence of eye conditions, and growing demand for advanced surgical solutions and pharmaceutical treatments. Its ability to adapt to market dynamics and invest in cutting-edge technologies underscores its resilience and growth potential.
Commitment to Eye Health
Bausch + Lomb's mission is deeply rooted in improving lives through better vision. Its investments in research and development, coupled with a focus on quality and safety, reflect its dedication to delivering products that enhance eye health worldwide. As a publicly traded company, Bausch + Lomb continues to build on its legacy of innovation and trust, serving the needs of patients, healthcare providers, and partners across the globe.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) announced a webinar to discuss findings from the National Eye Institute's 10-Year Follow-on Study of the Age-Related Eye Disease Study 2 (AREDS2). The webinar, titled "More InSight: A Closer Look at the New AREDS2 Data and What It Means For Patients," will take place on October 18, 2022. The session aims to help eye care professionals understand how to apply the study results regarding a specific nutrient formula's impact on Age-related Macular Degeneration (AMD) patients. Key insights will be provided by leading experts in the field.
Bausch + Lomb released its inaugural Visionary Report on September 13, 2022, highlighting the lack of awareness regarding Age-related Macular Degeneration (AMD) among Americans over 50. Despite 81% of respondents prioritizing eyesight, only 37% recognize AMD as a significant threat. Approximately 16 million Americans suffer from AMD, with this number expected to rise. The report indicates a critical gap in understanding AMD, as 61% are unaware that a dilated eye exam is required for diagnosis. Bausch + Lomb aims to enhance awareness and education about AMD through this report.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) and Novaliq GmbH announced the FDA's acceptance of their New Drug Application (NDA) for NOV03, an investigational eye drop for treating dry eye disease (DED) associated with Meibomian gland dysfunction (MGD). The PDUFA action date is set for June 28, 2023. This could mark Bausch + Lomb's first FDA approval for a prescription medicine since going public. Current treatments for DED related to MGD are limited, making NOV03 a promising therapy aimed at reducing tear evaporation.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) has entered an exclusive distribution agreement with Alfa Instruments to market its line of surgical intraocular dyes, named Vitreocare, globally (excluding Italy). This partnership aims to enhance Bausch + Lomb's surgical portfolio by incorporating clinically proven dyes that improve visibility during various eye surgeries. The distribution is expected to begin in the EU, excluding Italy, in early 2023. The dyes have received CE marking in the EU, UK, and Switzerland, demonstrating their safety and effectiveness for eye care professionals.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) has announced participation in two upcoming investor conferences. The company's CEO, Joseph C. Papa, CFO Sam Eldessouky, and SVP Arthur J. Shannon will represent Bausch + Lomb at the Wells Fargo 2022 Healthcare Conference on Sept. 7, 2022, at 1:55 p.m. ET in Boston, and the 20th Annual Morgan Stanley Global Healthcare Conference on Sept. 13, 2022, at 10:00 a.m. ET in New York. A live webcast will be available on the company's Investor Relations page.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) reported second-quarter 2022 revenues of $941 million, growing 1% year-over-year. Organic revenues increased 6%, driven by strong performance in the Vision Care segment, which saw a 6% rise to $589 million. Net income was $5 million, down from $44 million in Q2 2021. Cash flow from operations decreased by $94 million to $156 million. Bausch + Lomb reaffirmed its full-year revenue guidance between $3.75 billion and $3.80 billion, forecasting 4-5% organic growth.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) announced the U.S. launch of the #LUMIFYEyeDance Challenge on TikTok, starting July 25, 2022, and ending August 31, 2022. Participants can win a $10,500 prize package, including travel to New York and a makeover by celebrity makeup artist Vincent Oquendo. The initiative aims to build on the existing popularity of LUMIFY® products, which have garnered nearly 14 million views on TikTok. Additionally, a national product sampling tour will take place in major U.S. cities throughout August, featuring engaging experiences and opportunities for consumers.
Bausch + Lomb has made an equity investment in Sanoculis and signed an exclusive European distribution agreement for the MIMS® glaucoma treatment, enhancing their commitment to addressing unmet needs in glaucoma care. MIMS® is a minimally invasive surgical procedure that lowers intraocular pressure without stent implantation, with a CE marking confirming its safety. This strategic move aims to leverage Bausch + Lomb's distribution network in Europe, enabling better access to innovative glaucoma treatments for specialists and patients. The increasing prevalence of glaucoma presents a growing market opportunity for both companies.
Bausch + Lomb Corporation (NYSE/TSX: BLCO) has initiated a clinical study to evaluate the safety and efficacy of the Technolas® TENEO™ excimer laser for LASIK vision correction surgery targeting hyperopia with astigmatism. This study includes up to 334 operative eyes and aims to support FDA pre-market approval, marking a potential significant innovation in LASIK procedures. The demand for LASIK surgery is rising, highlighting the need for advanced options. If approved, this technology could enhance patient outcomes in the U.S., where it has already seen success in over 50 global markets.
Bausch + Lomb Corporation (BLCO) announces the release of its second-quarter 2022 financial results scheduled for August 4, 2022. A conference call will take place at 8:00 a.m. ET to discuss the results and provide a business update. Interested parties can access the webcast via the company's Investor Relations website. Bausch + Lomb, a leader in eye health, offers over 400 products and operates globally with over 12,000 employees in nearly 100 countries.
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